facebook
Traded Co logo
Submit
Daily limit: 0/10

United Properties Acquires Multifamily Buildings At 34-38 Main Street In Malden For $19M

Property Image
SOLD
$19,000,000

Massachusetts

See Similar Deals
MultiFamily66,000 SF
Sold 08/26/2024
the dealdetailscomps
Property Image
SOLD

United Properties Acquires Multifamily Buildings At 34-38 Main Street In Malden For $19M

34 Main Street & 38 Main Street

See Similar Deals
MultiFamily66,000 SF
Sold 08/26/2024
the dealdetailscomps

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$287
Total Square Footage:66,000 SF
Transaction Type:Sale

The multifamily properties located at 34-38 Main Street in Malden, MA, have been sold for $19 million. This transaction involved 76 residential units spread across over 33,000 square feet of land, showcasing the 1930s-era architecture and design of the buildings.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $19,000,000
  • Units: 76
  • Price Per Unit: $250,000
  • Square Feet: 33,000
  • Price Per Square Foot: $576
  • Buyer: United Properties

United Properties is the entity that acquired the multifamily buildings in this transaction. The deal illustrates a significant investment in the Malden market, reflecting the buyer's strategy in enhancing their real estate portfolio within the area.

Details

SOLD
IMAGE: 08/26/2024 ADDRESS: 34-38 Main Street MARKET: Malden, MA ASSET TYPE: Multifamily BUYER: United Properties SALE PRICE: $19,000,000 UNITS: 76 ~ PPU: $250,000 SF: 33,000 ~ PPSF: $576 NOTE: United Properties bought the multifamily buildings at 34 & 38 Main Street in Malden for $19 million. The 1930s-era properties feature a total of 76 residential units on over 33,000 square feet of land.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,013,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$67,502.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$90,069.69
Annual Debt Service$1,080,836.32