Demeo Realty Group Acquires Multifamily Property In Newton, MA For $1.6M
SOLD
$1,600,000
Massachusetts
See Similar DealsMultiFamily3,264 SF
Sold 11/05/2021
SOLD
Demeo Realty Group Acquires Multifamily Property In Newton, MA For $1.6M
16-18 Frederick St, Newton, Massachusetts, USA
See Similar DealsMultiFamily3,264 SF
Sold 11/05/2021
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$490
Total Square Footage:3,264 SF
Transaction Type:Sale
The multifamily property located at 16-18 Frederick St in Newton, MA has been sold for $1,600,000. The sale took place on November 5, 2021. The property spans 3,264 square feet, resulting in a price per square foot of $490.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,600,000
- Address: 16-18 Frederick St, Newton, MA
- Market: Newton, MA
- Buyer's Rep: Demeo Realty Group - Coldwell Banker Realty - Newton
- Seller's Rep: Ed Lyon - Preservation Properties
Demeo Realty Group, representing the buyer, and Ed Lyon from Preservation Properties, representing the seller, facilitated the transaction. This deal showcases the presence of experienced real estate professionals in the Newton market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$85,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80
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