Berkshire Hathaway HomeServices Acquires Multifamily Property On Oak Avenue In Newton For $1.5M
51 Oak Avenue
$1,500,000
$840/SF
Building Size
1,784 SF
Asset Type
MultiFamily
Closing
Nov 1, 2023
AI
A multifamily property located at 51 Oak Avenue in Newton, MA has been sold for $1.5 million. The sale was facilitated with representation from Berkshire Hathaway HomeServices Commonwealth Real Estate for the buyer and Maureen Kelly Fromm of RE/MAX Preferred Properties for the seller. The property spans 1,784 square feet and was sold at a price per square foot of $841. This transaction highlights the continued activity in the multifamily market in Newton.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,500,000
- Address: 51 Oak Avenue
- Market: Newton, MA
Representing the buyer in this deal is Berkshire Hathaway HomeServices Commonwealth Real Estate, while Maureen Kelly Fromm of RE/MAX Preferred Properties acted as the seller's representative. The involvement of these professionals underscores the importance of knowledgeable and experienced brokers in successful property transactions.
Players
West Newton MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93