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David Hurley & Alpha Group Facilitate $1.36M Multifamily Sale In Arlington, MA

Property Image
SOLD
$1,360,000

Massachusetts

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MultiFamily3,141 SF
Sold 04/05/2024
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Property Image
SOLD

David Hurley & Alpha Group Facilitate $1.36M Multifamily Sale In Arlington, MA

281 Park Avenue

See Similar Deals
MultiFamily3,141 SF
Sold 04/05/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$433
Total Square Footage:3,141 SF
Transaction Type:Sale

A rarely available two-family home located in Arlington Heights, MA, was sold for $1,360,000. The property, situated at 281 Park Avenue, offers two spacious units with wood-burning fireplaces, beamed ceilings, and built-in hutches. With a total square footage of 3,141 square feet, the sale price equated to $433 per square foot.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,360,000
  • Units: 2
  • Price Per Unit: $680,000
  • Square Footage: 3,141
  • Price Per Square Foot: $433
  • Address: 281 Park Avenue
  • Market: Arlington, MA

The transaction was facilitated by Alpha Group from Compass, representing the buyer, and David Hurley from Berkshire Hathaway HomeServices, representing the seller. This deal provides easy commuter access to Cambridge/Boston & western suburbs and is conveniently steps away from the MBTA 78 bus line.

Players

David Hurley
4 deals$5.1M volume
BROKER

Details

SOLD
IMAGE: David Hurley DATE: 04/05/2024 ADDRESS: 281 Park Avenue MARKET: Arlington, MA ASSET TYPE: Multifamily BUYER'S REP: Alpha Group - Compass (@Compass) SELLER'S REP: David Hurley - Berkshire Hathaway HomeServices (@BHHSRealEstate) SALE PRICE: $1,360,000 UNITS: 2 ~ PPU: $680,000 SF: 3,141 ~ PPSF: $433 NOTE: A rarely available two-family home in Arlington Heights, MA, sold for $1,360,000, featuring spacious units with wood-burning fireplaces, beamed ceilings, and built-in hutches, with easy commuter access to Cambridge/Boston & western suburbs, steps to the MBTA 78 bus line.

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

$72,533.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,831.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,447.09
Annual Debt Service$77,365.13