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24-28 Wilcox Street

Mohammed Rahman Acquires 16-Unit Multifamily In Springfield, MA For $1.375M
SOLDMultiFamily

Mohammed Rahman Acquires 16-Unit Multifamily In Springfield, MA For $1.375M

24-28 Wilcox Street

$1,375,000

$91/SF

Building Size

14,960 SF

Asset Type

MultiFamily

Closing

Aug 23, 2023

AI

The multifamily property located at 24-28 Wilcox Street in Springfield, MA has been sold for a price of $1,375,000. The property consists of 16 units, with a per unit price of $85,938. The total square footage of the property is 14,960, resulting in a price per square foot of $92.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,375,000
  • Units: 16
  • Price per Unit: $85,938
  • Square Footage: 14,960
  • Price per Square Foot: $92
  • Address: 24-28 Wilcox Street, Springfield, MA

The buyer of the property is Mohammed Rahman, while the seller is Matthew Tortoriello. The transaction was facilitated by Michael Bradley from Horvath & Tremblay acting as the broker representing both parties in the deal.

Players

Michael Bradley

Horvath & Tremblay

Broker

$12.2M

vol

5 deals

Broker

Mohammed M. Rahman

Buyer

$8.4M

vol

2 deals

Buyer

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

11.54%

Cash-on-Cash

-3.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93