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Multifamily Property At 31-33 Montvale Avenue Sold For $1.875M With Brokers Catia Aruda & Richard Corapi

Property Image
SOLD
$1,875,000

Massachusetts

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MultiFamily2,000 SF
Sold 08/26/2024
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Property Image
SOLD

Multifamily Property At 31-33 Montvale Avenue Sold For $1.875M With Brokers Catia Aruda & Richard Corapi

31-33 Montvale Avenue

See Similar Deals
MultiFamily2,000 SF
Sold 08/26/2024
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$937
Total Square Footage:2,000 SF
Transaction Type:Sale

A 2,000 sq ft multi-family property located at 31-33 Montvale Avenue in Stoneham, MA, has been sold for $1,875,000. This property includes a substantial yard of 20,177 sq ft and features an oversized two-story garage. It is an income-producing two-family home and is zoned for business, making it suitable for contracting and related industries with potential for development or use as a dedicated workplace.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,875,000
  • Square Footage: 2,000
  • Address: 31-33 Montvale Avenue
  • Market: Stoneham, MA
  • Price per Square Foot: $938

The transaction involved brokers Catia Aruda and Richard Corapi from Century 21 Celli, who represented the deal. Their expertise facilitated the sale of the property, highlighting its investment potential in the local market.

Players

Richard Corapi
2 deals$3.1M volume(617) 529-4956
BROKER

Catia Aruda
Century 21
1 deal$1.9M volume(617) 650-8341
BROKER

Details

SOLD
IMAGE: Catia Aruda & Richard Corapi DATE: 08/26/2024 ADDRESS: 31-33 Montvale Avenue MARKET: Stoneham, MA ASSET TYPE: Multifamily BROKERS: Catia Aruda (@ArudaRealtor) & Richard Corapi (@Richard.Corapi) - Century 21 Celli (@Century21Celli) SALE PRICE: $1,875,000 SF: 2,000 ~ PPSF: $938 NOTE: A 2,000 sq ft multi-family property at 31-33 Montvale Ave, Stoneham, sold for $1.875M, offering a large 20,177 sq ft yard, an oversized two-story garage, and an income-producing two-family home. Zoned for business, the property is ideal for contracting and related industries, with potential for development or use as a dedicated workplace.

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,661.47
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,888.46
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