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.
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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93