Updated Dec 4, 2024
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:
- Property Type: Multifamily
- Transaction Amount: $1,380,000
- Units: 3
- Square Footage: 3,185
- Price Per Unit: $460,000
- Price Per Square Foot: $433
- Buyer's Representative: Michael DiMarzo - Berkshire Hathaway HomeServices
- Seller's Representative: Christie Xie - Nuage Real Estate Group
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.
Players
Medford 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
11.49%
Cash-on-Cash
-3.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93