Andrew Freed Acquires Multifamily Property On 39 Wall Street, Worcester For $1.3M
39 Wall Street
$1,300,000
$138/SF
Building Size
9,369 SF
Asset Type
MultiFamily
Closing
May 24, 2024
AI
39 Wall St in Worcester, MA 01604 is a spacious 10-unit multifamily property that was recently sold for $1,300,000. Each unit in this property offers separate gas and electric utilities, providing significant potential for rental revenue growth. With 5 rooms, 3 bedrooms, and 1 bathroom per unit, this property presents an attractive investment opportunity in the Worcester market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,300,000
- Units: 10
- Price Per Unit: $130,000
- Square Footage: 9,369
- Price Per Square Foot: $139
- Address: 39 Wall Street
- Market: Worcester, MA
Andrew Freed fromFour Points Real Estate represented the buyer, while Alexander Colarusso from Colarusso Realty represented the seller in this transaction.
Players
Worcester 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
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93