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Walter Heller Purchases Multifamily Property From MJ Cobalt In Rockland For $2.95M

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SOLD
$2,950,000

Massachusetts

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MultiFamily10,892 SF
Sold 12/19/2024
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Property Image
SOLD

Walter Heller Purchases Multifamily Property From MJ Cobalt In Rockland For $2.95M

67 John A Dunn Memorial Drive

See Similar Deals
MultiFamily10,892 SF
Sold 12/19/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$270
Total Square Footage:10,892 SF
Transaction Type:Sale

The property involved in this transaction is a multifamily asset located at 67-71 John A Dunn Memorial Drive in Rockland, MA. The sale price was $2,950,000, with a total of 12 units. The property spans 10,892 square feet, resulting in a price per unit of $245,833 and a price per square foot of $270.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,950,000
  • Units: 12
  • Square Footage: 10,892
  • Price Per Unit: $245,833
  • Price Per Square Foot: $270
  • Buyer: Walter Heller
  • Seller: MJ Cobalt
  • Broker: Nick Jasinski - Berkadia

Walter Heller acquired the multifamily asset from MJ Cobalt, with the transaction facilitated by broker Nick Jasinski of Berkadia. This deal showcases the involvement of established professionals in the multifamily property market in Rockland, MA.

Players

14 deals$31.5M volume
BROKER

Details

SOLD
IMAGE: Nick Jasinski DATE: 12/19/2024 ADDRESS: 67-71 John A Dunn Memorial Drive MARKET: Rockland, MA ASSET TYPE: Multifamily BUYER: Walter Heller SELLER: MJ Cobalt BROKER: Nick Jasinski - Berkadia (@Berkadia) SALE PRICE: $2,950,000 UNITS: 12 ~ PPU: $245,833 SF: 10,892 ~ PPSF: $270

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

$157,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$10,480.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,984.51
Annual Debt Service$167,814.06