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Didier Lopez Of Re/Max Represents Buyer In Marlborough Multifamily Sale At $1.35M

Property Image
SOLD
$1,350,000

Massachusetts

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MultiFamily4,456 SF
Sold 07/15/2024
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Property Image
SOLD

Didier Lopez Of Re/Max Represents Buyer In Marlborough Multifamily Sale At $1.35M

14-18 Cotting Avenue

See Similar Deals
MultiFamily4,456 SF
Sold 07/15/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$303
Total Square Footage:4,456 SF
Transaction Type:Sale

A five-family rental property at 14-18 Cotting Avenue in Marlborough, MA, has been sold for $1,350,000. The property spans 4,456 sq. ft. and comprises 9 bedrooms and 5 bathrooms. The price per unit is $270,000, and the price per square foot stands at $303. Recent updates and a new roof contribute to its significant investment potential.

Summary of transaction details:

Didier Lopez represented the buyer in this transaction, while Stephen Bremis acted as the seller's representative, showcasing a collaborative effort in the multifamily real estate market. Both representatives played integral roles in facilitating the successful transfer of the property.

Players

Stephen (Steve) Bremis
8 deals$11.4M volume
BROKER

Didier Lopez
Re/Max
2 deals$2.5M volume(617) 818-8500
BROKER

Details

SOLD
IMAGE: Didier Lopez & Stephen Bremis DATE: 07/15/2024 ADDRESS: 14-18 Cotting Avenue MARKET: Marlborough, MA ASSET TYPE: Multifamily BUYER'S REP: Didier Lopez (@DidierLopezRemax) - Re/Max (@Remax) SELLER'S REP: Stephen Bremis (@SteveBremisTeam) - Steve Bremis Realty Group SALE PRICE: $1,350,000 UNITS: 5 ~ PPU: $270,000 SF: 4,456 ~ PPSF: $303 NOTE: A five-family rental property at 14-18 Cotting Ave, Marlborough, offers a prime investment opportunity with 9 beds, 5 baths, and 4,161 sq. ft. Recently updated units and a new roof enhance its value, providing strong cash flow potential.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$72,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,796.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,399.69
Annual Debt Service$76,796.26