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Multifamily Property Near Tufts University Sold For $1.3M With Broker Boston Real Estate Group
SOLD
$1,300,000
Massachusetts
See Similar DealsMultiFamily3,015 SF
Sold 08/21/2024
SOLD
Multifamily Property Near Tufts University Sold For $1.3M With Broker Boston Real Estate Group
16 Quincy Street
See Similar DealsMultiFamily3,015 SF
Sold 08/21/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$431
Total Square Footage:3,015 SF
Transaction Type:Sale
A multi-family property located at 16 Quincy Street in Medford, MA, was sold for $1,300,000. The asset encompasses 3,015 square feet, reflecting a price per square foot of $431. The property features a renovated owner's unit with high ceilings and period wood details, as well as a modern kitchen.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,300,000
- Square Footage: 3,015
- Price per Square Foot: $431
- Address: 16 Quincy Street
- Market: Medford, MA
- Broker: Boston Real Estate Group - Compass
The transaction was facilitated by Boston Real Estate Group, representing the parties involved in the deal. Their expertise contributed to the successful sale of this multifamily asset near Tufts University.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$69,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,618.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,162.66
Annual Debt Service$73,951.96
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