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Northeast Private Client Group Sells Multifamily Portfolio In Chelsea, MA For $8.4M As Seller's Rep

Property Image
SOLD
$8,400,000
Jim Casey
Francis Saenz
Drew Kirkland

Massachusetts

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MultiFamily
Sold 04/04/2024
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Property Image
SOLD

Northeast Private Client Group Sells Multifamily Portfolio In Chelsea, MA For $8.4M As Seller's Rep

31 Louis Street & 47 Louis Street

See Similar Deals
MultiFamily
Sold 04/04/2024
Jim Casey
Francis Saenz
Drew Kirkland
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale

The six-building portfolio at 31-47 Louis Street in Chelsea, MA has been sold for $8.4 million. The property comprises 27 residential units with 23 off-street parking spaces, as well as amenities like coin-op washers and dryers.

Summary of transaction details:

Senior Associates Drew Kirkland, Francis Saenz, and Jim Casey were responsible for representing the seller and facilitating the transaction with the buyer in this deal.

Players

Drew Kirkland
NorthEast Private Client Group
Drew Kirkland
18 deals$94.8M volume(857) 990-6802
BROKER
Francis Saenz
NorthEast Private Client Group
Francis Saenz
15 deals$72.7M volume(857) 990-6803
BROKER
Jim Casey
NorthEast Private Client Group
Jim Casey
9 deals$54.1M volume
BROKER

Details

SOLD
IMAGE: Drew Kirkland, Francis Saenz & Jim Casey DATE: 04/04/2024 ADDRESS: 31-47 Louis Street MARKET: Chelsea, MA ASSET TYPE: Multifamily BROKERS: Drew Kirkland, Francis Saenz & Jim Casey - NorthEast Private Client Group (@NorthEastPCG) SALE PRICE: $8,400,000 UNITS: 27 ~ PPU: $311,111 NOTE: Northeast Private Client Group announced the $8.4 million sale of a six-building portfolio at 31-47 Louis Street in Chelsea, MA. Senior Associates Drew Kirkland, Francis Saenz, and Jim Casey represented the seller and facilitated the transaction with the buyer, comprising 27 residential units with 23 off-street parking spaces and amenities like coin-op washers and dryers.

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

$448,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$29,843.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$39,820.29
Annual Debt Service$477,843.43