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21 Walnut Street, Malden, M...

Andreas Tsitos Acquires Multifamily Property At 21 Walnut Street In Malden, MA For $2.6M
SOLDMultiFamily

Andreas Tsitos Acquires Multifamily Property At 21 Walnut Street In Malden, MA For $2.6M

21 Walnut Street, Malden, MA, USA

$2,600,000

$265/SF

Building Size

9,788 SF

Asset Type

MultiFamily

Closing

Dec 22, 2020

AI

Located at 21 Walnut Street in Malden, MA, this multifamily property was recently sold in a closed transaction. The property spans 9,788 square feet and consists of 12 units. The sale price for this asset was $2,600,000, resulting in a price per square foot of $266. The asking price and sale price were both $2,600,000, indicating that the property was sold at the full asking price. With a capitalization rate of 5%, this transaction represents a solid investment opportunity.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,600,000
  • Address: 21 Walnut Street, Malden, MA
  • Market: Malden, MA
  • Seller: Andrew Falkenstein
  • Buyer: Andreas Tsitos
  • Brokers: Raz Panossian & Ali Choucri - East Group
  • Square Footage: 9,788
  • Price per Square Foot: $266
  • Units: 12
  • Price per Unit: $216,667
  • Capitalization Rate: 5%

Raz Panossian and Ali Choucri from East Group represented the buyer and seller, respectively, in this transaction. The involvement of these brokers highlights their expertise in the local market and their ability to successfully negotiate deals for their clients.

Players

Ali Choucri

Broker

$6M

vol

5 deals

Broker

Malden MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

6.10%

Cash-on-Cash

-1.74%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93