Updated Sep 9, 2024
2 Granite Street Multifamily Sold For $1.6M By Horvath & Tremblay And Remax
2 Granite Street Malden, MA 02148, USA
$1,587,000
$331/SF
Building Size
4,792 SF
Asset Type
MultiFamily
Closing
Sep 8, 2023
About this deal
AI
The property at 2 Granite St. in Malden, MA has been sold for $1.587 million. This multifamily asset consists of a seven-unit, three-story building. Each unit is a two-room studio-style apartment with spacious kitchen/living spaces. The total square footage of the property is 4,792, resulting in a price per square foot of $331.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,587,000
- Address: 2 Granite Street, Malden, MA
- Market: Malden, MA
- Buyer's Rep: Dennis Kelleher & John Pentore - Horvath & Tremblay
- Seller's Rep: Cam Whalen - Remax
- SF: 4,792
- PPSF: $331
Dennis Kelleher and John Pentore from Horvath & Tremblay represented the buyer in this transaction, while Cam Whalen from Remax represented the seller. These real estate professionals played a crucial role in facilitating the successful sale of the property at 2 Granite St.
Players
Granite MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.00%
Cash-on-Cash
-2.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93