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Lock & Key Realty Acquires 22-Unit Multifamily In Westfield, MA For $2.3M

Property Image
SOLD
$2,300,000

Massachusetts

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MultiFamily12,675 SF
Sold 08/07/2023
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Property Image
SOLD

Lock & Key Realty Acquires 22-Unit Multifamily In Westfield, MA For $2.3M

60 Franklin St Westfield, MA 01085, USA

See Similar Deals
MultiFamily12,675 SF
Sold 08/07/2023
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$181
Total Square Footage:12,675 SF
Transaction Type:Sale

A multifamily property located at 60-62 Franklin Street in Westfield, MA has recently been sold. The property consists of 22 units with a price per unit of $104,545. The total square footage of the property is 12,675, resulting in a price per square foot of $181. The sale price for the property was $2,300,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,300,000
  • Address: 60-62 Franklin Street, Westfield, MA
  • Market: Westfield, MA
  • Units: 22
  • Price per Unit: $104,545
  • Square Footage: 12,675
  • Price per Square Foot: $181

Pablo Ottenwalder from Lock & Key Realty represented the buyer in this transaction. If you are interested in apartment building deals in western mass, you can reach out to Pablo Ottenwalder for more information.

It's also worth noting that Pablo Ottenwalder has two off-market deals available, one with 24 units and another with 48 units. If you are looking for investment opportunities in the area, it might be worth contacting Pablo Ottenwalder for more details.

Players

3 deals$6.5M volume
BROKER

Details

SOLD
IMAGE: Pablo Ottenwalder DATE: 08/07/2023 ADDRESS: 60-62 Franklin Street MARKET: Westfield, MA ASSET TYPE: Multifamily BUYER'S REP: Pablo Ottenwalder (@PabloOttenwalderjr) - Lock & Key Realty (@LockandKeyRealty) SALE PRICE: $2,300,000 UNITS: 22 ~ PPU: $104,545 SF: 12,675 ~ PPSF: $181 NOTE FROM BROKER: DM me if you are looking for apartment building deals in western mass! I have a 24-unit and a 48-unit off-market!

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

$122,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,171.42
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,903.17
Annual Debt Service$130,838.08