Updated Dec 20, 2023
Northeast Private Client Group Facilitates $7.3M Sale Of 39-Unit Multifamily In Reading, MA
625 Main Street, Reading, MA, USA
$7,325,000
$12,208/SF
Building Size
600 SF
Asset Type
MultiFamily
Closing
Dec 1, 2020
About this deal
AI
The multifamily property located at 625 Main Street in Reading, MA was recently sold for a price of $7,325,000. The transaction took place on 12/02/2020 and was facilitated by brokers Francis Saenz and Drew Kirkland of Northeast Private Client Group. The property consists of 39 units, with a per unit price of $187,820. The cap rate for this investment is 6.1%.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,325,000
- Units: 39
- Price Per Unit: $187,820
- Cap Rate: 6.1%
Francis Saenz and Drew Kirkland, representing Northeast Private Client Group, played a key role in facilitating this sale. Their expertise and negotiation skills were instrumental in closing the deal successfully.
Players
Reading 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
2.17%
Cash-on-Cash
-0.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93