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36 Spring Street

Andreas Tsitos Acquires 11-Unit MultiFamily In Malden, MA For $2.85M
SOLDMultiFamily

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

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

Rich Cawley

United Multi Family

Broker

$30.8M

vol

6 deals

Broker

Market 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

5.57%

Cash-on-Cash

-1.59%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93