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Signature Properties Acquires Winthrop Multifamily Property For $3M With Lillian Montalto And Gabrielle Russo

Property Image
SOLD
$3,000,000

Massachusetts

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MultiFamily7,092 SF
Sold 07/22/2021
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Property Image
SOLD

Signature Properties Acquires Winthrop Multifamily Property For $3M With Lillian Montalto And Gabrielle Russo

17 Cutler Street, Winthrop, Massachusetts, USA

See Similar Deals
MultiFamily7,092 SF
Sold 07/22/2021
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$423
Total Square Footage:7,092 SF
Transaction Type:Sale

A multifamily property located at 17 Cutler Street in Winthrop, MA has been sold for a price of $3,000,000. The transaction took place on July 22, 2021. The property spans over 7,092 square feet, resulting in a price per square foot of $423. The seller, Gabrielle Russo, facilitated the sale.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,000,000
  • Date: 07/22/2021
  • Address: 17 Cutler Street
  • Market: Winthrop, MA
  • Seller's Representative: Gabrielle Russo
  • Buyer's Representative: Lillian Montalto - Signature Properties

Lillian Montalto, from Signature Properties, represented the buyer in this transaction. The sale price of $3,000,000 was met, with an asking price that matched the final amount. The property's size of 7,092 square feet and the price per square foot of $423 provides insight into the market value of this multifamily asset.

Players

4 deals$8.8M volume
BROKER

Gabrielle Russo
1 deal$3M volume
BROKER

Details

SOLD
IMAGE: Gabrielle Russo DATE: 07/22/2021 ADDRESS: 17 Cutler Street MARKET: Winthrop, MA ASSET TYPE: Multifamily BUYER'S REP: Lillian Montalto - Signature Properties SELLER'S REP: Gabrielle Russo (@GabrielleRusso_Realty) ASKING PRICE: $3,000,000 SALE PRICE: $3,000,000 SF: 7,092 ~ PPSF: $423

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

$160,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,658.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,221.53
Annual Debt Service$170,658.37