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428 Main Street

Updated Dec 4, 2024

Michael DiMarzo Of Berkshire Hathaway HomeServices Represents Buyer In $1.38M Medford Multifamily Sale
SOLDMultiFamily

Michael DiMarzo Of Berkshire Hathaway HomeServices Represents Buyer In $1.38M Medford Multifamily Sale

428 Main Street

$1,380,000

$433/SF

Building Size

3,185 SF

Asset Type

MultiFamily

Closing

Sep 6, 2024

About this deal

AI

A 3-unit multi-family home located at 428 Main Street in Medford, MA, was sold for $1,380,000. This property features a total square footage of 3,185 and offers a price per unit of $460,000 and a price per square foot of $433. It is situated on a corner lot and includes 5 parking spaces, ideally located in a high-rent area near Tufts University and major transit routes.

Summary of transaction details:

This transaction was handled by Michael DiMarzo from Berkshire Hathaway HomeServices, representing the buyer, and Christie Xie from Nuage Real Estate Group, representing the seller. The deal reflects the collaboration between the two brokers, highlighting their roles in facilitating the sale of the property.

On the Map

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$1,380,000

$433/SF

MultiFamily

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Players

Christie Xie

Nuage Real Estate Group

Broker

$9.5M

vol

7 deals

Broker

Medford MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $433 per square foot on a published $1.4M for 3,185 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

11.49%

Cash-on-Cash

-3.29%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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