Homeowner's Rehab Acquires Multifamily Property In Cambridge For $7.2M
SOLD
$7,200,000
+ 4
Massachusetts
See Similar DealsMultiFamily6,821 SF
Sold 08/15/2022
SOLD
Homeowner's Rehab Acquires Multifamily Property In Cambridge For $7.2M
1627 Massachusetts Avenue
See Similar DealsMultiFamily6,821 SF
Sold 08/15/2022
+ 4
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$1,055
Total Square Footage:6,821 SF
Transaction Type:Sale
The multifamily property located at 1627 Massachusetts Avenue in Cambridge, MA has been sold in a closed transaction. The property consists of 6,821 square feet. The sale price for this transaction was $7,200,000, resulting in a price per square foot of $1,056.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,200,000
- Address: 1627 Massachusetts Avenue, Cambridge, MA
- Market: Cambridge, MA
The buyer of the property is Homeowner's Rehab, and the seller is Lesley University. Representing the buyer and seller in this transaction were the following brokers from Cushman & Wakefield: John Flaherty, Chris Sower, Bruce Lusa, Jon Bryant, Kevin Jones, Julie Regan, and Mary VanNatta.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$384,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$25,580.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$34,131.67
Annual Debt Service$409,580.08
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