Updated Oct 28, 2024
Neighborhood Dev Inc Acquires Chelsea, MA Apartment For $13.2M
50 Chester Avenue, Chelsea, Massachusetts 02150, United States
$13,247,412
$2,100/SF
Building Size
6,306 SF
Asset Type
MultiFamily
Closing
Dec 12, 2021
About this deal
AI
Neighborhood Dev Inc has acquired an apartment property located at 48-50 Chester Ave in Chelsea, MA. The transaction was completed on December 13, 2021. The property spans a total of 6,306 square feet and was sold for a price of $13,247,412, resulting in a price per square foot of $2,100.
Summary of transaction details:
- Property Type: Apartment
- Transaction Amount: $13,247,412
- Address: 48-50 Chester Ave, Chelsea, MA
- Market: Chelsea, MA
- Buyer: Neighborhood Dev Inc
- Seller: Chelsea Homes I Lp
- Square Footage: 6,306
- Price per Square Foot: $2,100
The buyer, Neighborhood Dev Inc, successfully acquired the property from the seller, Chelsea Homes I Lp. This transaction signifies a significant investment in the Chelsea, MA market by Neighborhood Dev Inc. The deal highlights the commitment of Neighborhood Dev Inc in expanding their portfolio in the apartment sector.
Players
Chelsea 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
1.20%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93