Updated Dec 20, 2023
Herrick Lutts Realty Partners Facilitates $1.4M Multifamily Sale In Melrose
56 East Emerson Street, Melrose, Massachusetts 02176, United States
$1,400,000
$389/SF
Building Size
3,591 SF
Asset Type
MultiFamily
Closing
Oct 6, 2022
About this deal
AI
A multifamily property located at 56 E Emerson Street in Melrose, MA has been sold for $1,400,000. The property consists of 5 units, with an average price per unit of $280,000. The total square footage of the property is 3,591, resulting in a price per square foot of $390.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,400,000
- Units: 5
- Price per Unit: $280,000
- Square Footage: 3,591
- Price per Square Foot: $390
The sale was facilitated by Nicholas Zolotas of Herrick Lutts Realty Partners. As the broker representing the transaction, Zolotas played a crucial role in connecting the buyer and seller and ensuring a successful sale.
Melrose 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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93