FPA Multifamily Acquires Multifamily Asset From Micozzi Management For $25.73M In Worcester
SOLD
Massachusetts
See Similar DealsMultiFamily106,644 SF
Sold 10/01/2025
SOLD
FPA Multifamily Acquires Multifamily Asset From Micozzi Management For $25.73M In Worcester
5 Suburban Road
See Similar DealsMultiFamily106,644 SF
Sold 10/01/2025
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$241
Total Square Footage:106,644 SF
Transaction Type:Sale
This multifamily asset, located at 5 Suburban Road in Worcester, MA, encompasses 92 units across a total square footage of 106,644. The property was sold for $25,725,000, resulting in a price per unit of $279,619 and a price per square foot of $241.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $25,725,000
- Units: 92
- Square Footage: 106,644
- Price Per Unit: $279,619
- Price Per Square Foot: $241
- Buyer: FPA Multifamily
- Seller: Micozzi Management
- Seller's Representative: Christopher Sower, Bruce Lusa, Mary VanNatta, Julie Regan, Ryan Mowery & An Nguyen - Cushman & Wakefield
This transaction was facilitated by multiple representatives from Cushman & Wakefield, marking a notable collaboration among experienced brokers in the deal's execution.
Players
BROKERAGE
BUYER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,372,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$91,395.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$121,949.62
Annual Debt Service$1,463,395.49
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