True North Realty Acquires Multifamily Asset In Reading, MA For $1.09M
SOLD
$1,090,000
Massachusetts
See Similar DealsMultiFamily4,000 SF
Sold 04/15/2022
SOLD
True North Realty Acquires Multifamily Asset In Reading, MA For $1.09M
40 Pleasant Street, Reading, Massachusetts 01867, United States
See Similar DealsMultiFamily4,000 SF
Sold 04/15/2022
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$272
Total Square Footage:4,000 SF
Transaction Type:Sale
A multifamily property located at 38/40 Pleasant St in Reading, MA has been sold for a total price of $1,090,000. The property consists of 4 units, with a price per unit of $272,500. The total square footage of the property is 4,000, resulting in a price per square foot of $273.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,090,000
- Units: 4
- Price per Unit: $272,500
- Square Footage: 4,000
- Price per Square Foot: $273
- Address: 38/40 Pleasant St, Reading, MA
- Market: Reading, MA
Jennifer Hardin from True North Realty represented the buyer in this transaction. Linda Foye from Coldwell Banker Realty - Andover represented the seller. Their expertise in the real estate industry played a crucial role in facilitating the deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$58,133.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,872.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,167.16
Annual Debt Service$62,005.87
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