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Madison Team & The Sarkis Team Broker $1.3M Multifamily Sale In Revere

Property Image
SOLD
$1,300,000

Massachusetts

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MultiFamily3,459 SF
Sold 05/10/2024
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Property Image
SOLD

Madison Team & The Sarkis Team Broker $1.3M Multifamily Sale In Revere

198 Harris Street

See Similar Deals
MultiFamily3,459 SF
Sold 05/10/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$375
Total Square Footage:3,459 SF
Transaction Type:Sale

Located at 198 Harris Street in Revere, MA, the property is a multifamily asset comprising a 5-unit building. The transaction involved a sale price of $1,300,000, with each unit valued at $260,000. The total square footage of the property is 3,459, translating to a price per square foot of $376.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,300,000
  • Units: 5
  • Price per Unit: $260,000
  • Square Footage: 3,459
  • Price per Square Foot: $376
  • Address: 198 Harris Street
  • Market: Revere, MA

The transaction at 198 Harris St in Revere, MA involved the Madison Team from RE/MAX Renaissance Inc representing the buyer. On the other side, George Sarkis & Manny Sarkis, from The Sarkis Team at Douglas Elliman, acted as the seller's representatives in this deal.

Players

Manny Sarkis
5 deals$11.5M volume
BROKER

George Sarkis
Douglas Elliman
6 deals$19.8M volume
BROKER

Details

SOLD
IMAGE: George Sarkis & Manny Sarkis DATE: 05/10/2024 ADDRESS: 198 Harris Street MARKET: Revere, MA ASSET TYPE: Multifamily BUYER'S REP: Madison Team - RE/MAX Renaissance Inc SELLER'S REP: George Sarkis (@GeorgeSarkisJr) & Manny Sarkis - The Sarkis Team (@TheSarkisTeam) Douglas Elliman (@DouglasElliman) SALE PRICE: $1,300,000 UNITS: 5 ~ PPU: $260,000 SF: 3,459 ~ PPSF: $376 NOTE: 198 Harris St in Revere, MA sold for $1.3 million, featuring a 5-unit building with updated kitchens, renovated baths, and preserved hardwood floors and molding.

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Deal Type
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