Multifamily Property At 34 Thorndike Street Revere Sold For $1M With Broker Danny Zheng
34 Thorndike Street
$1,000,000
$392/SF
Building Size
2,550 SF
Asset Type
MultiFamily
Closing
Jul 15, 2024
AI
A turnkey 3-family property located at 34 Thorndike Street in Revere, MA, has been sold for $1,000,000. This multifamily asset comprises 2,550 sq. ft., six bedrooms, and three bathrooms. The property was renovated in 2004, featuring updates including new electrical systems, plumbing, and vinyl siding. Each unit in the building offers two bedrooms, an open floor plan, and individual laundry hookups.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,000,000
- Square Footage: 2,550
- Price Per Square Foot: $392
- Address: 34 Thorndike Street
- Market: Revere, MA
- Bedrooms: 6
- Bathrooms: 3
- Broker: Danny Zheng - Keller Williams Realty
Representing the transaction, broker Danny Zheng facilitated the sale of this asset, ensuring a successful closing for both parties involved. His expertise in the market contributed to the seamless execution of the deal.
Revere 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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93