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Barbara Aceto Of Fudge Properties Represents Buyer In $1.8M Multifamily Sale In Andover, MA

Property Image
SOLD
$1,800,000

Massachusetts

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MultiFamily10,400 SF
Sold 07/15/2024
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Property Image
SOLD

Barbara Aceto Of Fudge Properties Represents Buyer In $1.8M Multifamily Sale In Andover, MA

204 North Main Street & 210 North Main Street

See Similar Deals
MultiFamily10,400 SF
Sold 07/15/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$173
Total Square Footage:10,400 SF
Transaction Type:Sale

A multi-family property located at 204-210 North Main Street in Andover, MA, was sold for $1,800,000. The property consists of four 3-bedroom townhouse units, offering a total of 5,200 square feet and is accompanied by 12 parking spaces. The transaction reflects a price per unit of $450,000 and a price per square foot of $346, alongside a cap rate of 6.53%.

Summary of transaction details:

The individuals involved in the transaction include Barbara Aceto representing the buyer through Fudge Properties and Spencer Norton representing the seller via Horvath & Tremblay. Each played a critical role in facilitating this real estate deal.

Players

Spencer Norton
19 deals$78.4M volume
BROKER

Barbara Aceto
Fudge Properties
1 deal$1.8M volume(617) 466-3546
BROKER

Details

SOLD
IMAGE: Barbara Aceto & Spencer Norton DATE: 07/15/2024 ADDRESS: 204-210 North Main Street MARKET: Andover, MA ASSET TYPE: Multifamily BUYER'S REP: Barbara Aceto (@Barbarasa13) - Fudge Properties SELLER'S REP: Spencer Norton - Horvath & Tremblay SALE PRICE: $1,800,000 UNITS: 4 ~ PPU: $450,000 SF: 5,200 ~ PPSF: $346 NOTE: A multi-family property at 204-210 N Main St, Andover, sold for $1.8 million, featuring four 3-bedroom townhouse units with modern amenities. The 5,200 sq. ft. building includes 12 parking spaces and offers a 6.53% cap rate.

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

$96,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,395.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,532.92
Annual Debt Service$102,395.02