Updated Dec 4, 2024
Tonya Branen Of Century 21 Represents Buyer In Methuen Multifamily Sale For $1.249M
44-44a Oakland Avenue
$1,249,000
$259/SF
Building Size
4,812 SF
Asset Type
MultiFamily
Closing
Sep 12, 2024
About this deal
AI
A multi-family property located at 44-44A Oakland Avenue in Methuen, MA, has been sold for $1,249,000. The building, constructed in 1910, spans 4,812 square feet and sits on a 5,662-square-foot lot. It consists of fully renovated one-bedroom units equipped with separate utilities and mini-split systems, presenting a low-maintenance investment opportunity.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,249,000
- Square Footage: 4,812
- Address: 44-44a Oakland Avenue
- Market: Methuen, MA
- Price per Square Foot: $260
- Buyer's Representative: Tonya Branen - Century 21
- Seller's Representative: Nick Cowden - Compass
Tonya Branen represented the buyer in this transaction while Nick Cowden acted as the representative for the seller. This sale facilitates the transition of ownership of a multi-family investment property in the competitive Methuen real estate market.
Players
Methuen 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
12.70%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93