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Charlesgate Realty Group Sells Winthrop Multifamily Asset For $1.9M

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SOLD
$1,900,000

Massachusetts

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MultiFamily6,544 SF
Sold 06/12/2024
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Property Image
SOLD

Charlesgate Realty Group Sells Winthrop Multifamily Asset For $1.9M

49 Siren Street & 49r Siren Street

See Similar Deals
MultiFamily6,544 SF
Sold 06/12/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$290
Total Square Footage:6,544 SF
Transaction Type:Sale

The multifamily property located at 49 & 49R Siren Street in Winthrop, MA, was sold for a total of $1,900,000. The properties feature a combined total of 11 bedrooms spread across multiple units on two lots, spanning over 12,000 square feet.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,900,000
  • Units: 7
  • Price per Unit: $271,429
  • Square Footage: 3,272
  • Price per Square Foot: $581
  • Address: 49 & 49R Siren Street, Winthrop, MA
  • Market: Winthrop, MA

The sale was facilitated by Cathie Curran & Mary Ann Cash from Charlesgate Realty Group, representing the deal as the brokers.

Players

Cathie Curran
3 deals$4.3M volume(617) 835-2850
BROKER

Mary Ann Cash
Charlesgate Realty Group
1 deal$1.9M volume(617) 846-1234
BROKER

Details

SOLD
IMAGE: Cathie Curran & Mary Ann Cash DATE: 06/12/2024 ADDRESS: 49 & 49R Siren Street MARKET: Winthrop, MA ASSET TYPE: Multifamily BROKERS: Cathie Curran & Mary Ann Cash (@MaryAnnCash_Realtor) - Charlesgate Realty Group (@CharlesgateRealtyGroup) SALE PRICE: $1,900,000 UNITS: 7 ~ PPU: $271,429 SF: 3,272 ~ PPSF: $581 NOTE: A significant investment opportunity has emerged at 49 and 49R Siren Street in Winthrop, MA, with a combined sale price of $1,900,000. Tailored for developers and contractors, the properties offer a total of 11 bedrooms across multiple units on two lots spanning over 12,000 square feet.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$101,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,750.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,006.97
Annual Debt Service$108,083.63