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Douglas Stone & Todd Glaskin Facilitate $1.5M Multifamily Sale In Newton, MA

Property Image
SOLD
$1,499,000

Massachusetts

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MultiFamily3,422 SF
Sold 03/25/2024
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Property Image
SOLD

Douglas Stone & Todd Glaskin Facilitate $1.5M Multifamily Sale In Newton, MA

40-42 Dalby Street

See Similar Deals
MultiFamily3,422 SF
Sold 03/25/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$438
Total Square Footage:3,422 SF
Transaction Type:Sale

Sold for $1,499,000, this stunning, gut-renovated two-family home in Newton at 40-42 Dalby Street offers condo-quality units with luxury finishes, including granite and stainless steel kitchens. The property spans 3,422 square feet and was sold for a price per unit of $749,500, with a price per square foot of $438.

Summary of transaction details:

Douglas Stone represented the buyer, while Todd Glaskin acted as the seller's representative in this transaction. The property, with high-end finishes, generated nearly $8,000 in rents through the summer.

Players

Todd Glaskin
23 deals$109.8M volume
BROKER

Douglas Stone
Re/Max
1 deal$1.5M volume(508) 769-4965
BROKER

Details

SOLD
IMAGE: Douglas Stone & Todd Glaskin DATE: 03/25/2024 ADDRESS: 40-42 Dalby Street MARKET: Newton, MA ASSET TYPE: Multifamily BUYER'S REP: Douglas Stone - RE/MAX Executive Realty (@RemaxExecutiveRealty) SELLER'S REP: Todd Glaskin (@ToddGlaskin) - Coldwell Banker (@ColdwellBanker) SALE PRICE: $1,499,000 UNITS: 2 ~ PPU: $749,500 SF: 3,422 ~ PPSF: $438 NOTE: Sold for $1,499,000, this stunning, gut-renovated two-family home in Newton offers condo-quality units with luxury finishes, including granite and stainless steel kitchens, generating nearly $8,000 in rents through the summer.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$79,946.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,325.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,106.02
Annual Debt Service$85,272.30