Updated Oct 29, 2024
Orlando Investors Acquire Multifamily Asset In Southbridge, MA For $5.3M
295-315 Main Street Southbridge, Massachusetts 01550, USA
$5,300,000
Units
34
Asset Type
MultiFamily
Closing
May 31, 2023
About this deal
AI
A group of Orlando investors, through WPS Southbridge 65 LLC, has purchased the Whitford Building and Edwards Block in Southbridge, MA. The multifamily property, located at 295-315 Main St, was sold by VTT Property Management for a total price of $5,300,000. The property consists of 34 units, resulting in a price per unit of $155,882.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,300,000
- Address: 295-315 Main St, Southbridge, MA
- Market: Southbridge, MA
The purchasing entity, WPS Southbridge 65 LLC, is represented by Rajeev Tirur and Christopher Morgan. The sale was facilitated by Northeast Private Client Group. This transaction marks the acquisition of the Whitford Building and Edwards Block by the Orlando investors, expanding their real estate portfolio in Southbridge.
Players
Southbridge 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
2.99%
Cash-on-Cash
-0.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93