Updated Dec 4, 2024
Multifamily Property At 202-212 Pearl Street In Springfield MA Sold For $4.37M
202-212 Pearl Street
$4,370,000
$95/SF
Building Size
45,750 SF
Asset Type
MultiFamily
Closing
Sep 24, 2024
About this deal
AI
An income-producing multi-family property located at 202-212 Pearl Street in Springfield, MA has been sold for $4.37 million. The property consists of 46 units spread across two residential buildings and includes a parking lot with 35 spaces and seven garages. The total square footage of the asset is 45,750, with a price per unit of $95,000 and a price per square foot of $96.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,370,000
- Units: 46
- Square Footage: 45,750
- Price per Unit: $95,000
- Price per Square Foot: $96
- Brokers: Andrew Rodman & James Charles - Lock & Key Realty
The transaction was facilitated by Andrew Rodman and James Charles, representing Lock & Key Realty, who were key participants in the sale of this multifamily property in the Springfield market.
Players
Springfield 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
3.63%
Cash-on-Cash
-1.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93