Updated Sep 5, 2024
Andreas Tsitos Acquires 11-Unit MultiFamily In Malden, MA For $2.85M
36 Spring Street
$2,850,000
$378/SF
Building Size
7,535 SF
Asset Type
MultiFamily
Closing
Feb 28, 2023
About this deal
AI
The multi-family property located at 36 Spring Street in Malden, MA has been sold in a recent transaction. The property features a total of 11 units, with an average price per unit of $259,091. The total square footage of the property is 7,535, resulting in a price per square foot of $378. The sale price for the property was $2,850,000.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $2,850,000
- Units: 11
- Price per Unit: $259,091
- Square Footage: 7,535
- Price per Square Foot: $378
- Market: Malden, MA
The buyer of the property was Andreas Tsitos, and the seller was Robert Glendon. The transaction was facilitated by Richard Cawley and Jacob Yish from United Multi Family, who represented the buyer and seller respectively.
Players
Market 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
5.57%
Cash-on-Cash
-1.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93