Updated Dec 4, 2024
Manny Lindo Of Highland Real Estate Group Represents Buyer In $2.2M Multifamily Sale In Fall River
488 Ridge Street & 494 Ridge Street
$2,200,000
$157/SF
Building Size
7,000 SF
Asset Type
MultiFamily
Closing
Oct 2, 2024
About this deal
AI
The multifamily property located at 488-494 Ridge Street in Fall River, MA, was sold for $2.2 million. This 9-unit property consists of two separate buildings offering a total of 18 bedrooms and 9 bathrooms, encompassing 7,000 square feet of space.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,200,000
- Units: 9
- Price Per Unit: $244,444
- Square Footage: 7,000
- Price Per Square Foot: $314
- Buyer's Representative: Manny Lindo - Highland Real Estate Group
- Seller's Representative: Vasco C Cabral - Keller Williams Realty
The transaction involved key representatives from Highland Real Estate Group and Keller Williams Realty, with Manny Lindo representing the buyer and Vasco C Cabral representing the seller, facilitating the exchange of this multifamily asset in the market.
Players
Fall River 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
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93