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31 Green Avenue

Isaac Adams Purchases Multifamily Property From Jim Jacobs For $1.4 Million In Southbridge MA
SOLDMultiFamily

Isaac Adams Purchases Multifamily Property From Jim Jacobs For $1.4 Million In Southbridge MA

31 Green Avenue, 149 Charlton Street & 153 Charlton Street

$1,400,000

$46/SF

Building Size

30,000 SF

Asset Type

MultiFamily

Closing

Jan 30, 2025

AI

The sale involves a multifamily property located at 31 Green Avenue, 149 Charlton Street & 153 Charlton Street in Southbridge, MA. The transaction was completed for a total price of $1,400,000, comprising 9 units with a total square footage of 10,000, resulting in a price per unit of $155,555 and a price per square foot of $140.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,400,000
  • Address: 31 Green Avenue, 149 Charlton Street & 153 Charlton Street
  • Market: Southbridge, MA
  • Units: 9
  • Square Footage: 10,000
  • Price Per Unit: $155,555
  • Price Per Square Foot: $140
  • Buyer: Isaac Adams
  • Seller: Jim Jacobs
  • Buyer's Representative: Benjamin Carbone - Lamacchia Realty

Benjamin Carbone, representing the buyer Isaac Adams, has facilitated the sale of over 300 units in the last 13 months, involving transactions worth over 30 million dollars throughout Central Massachusetts and Northeast Connecticut. He is also an investor with a significant portfolio that spans across two states.

Players

Benjamin Carbone

Lamacchia Realty

Broker

$5.8M

vol

3 deals

Broker

Southbridge MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

11.33%

Cash-on-Cash

-3.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93