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Chuck Andre & Scott Cutler Sell Medford, MA Multifamily For $1M
SOLD
$1,000,000
Massachusetts
See Similar DealsMultiFamily4,368 SF
Sold 06/03/2024
SOLD
Chuck Andre & Scott Cutler Sell Medford, MA Multifamily For $1M
68 Billings Avenue & 70 Billings Avenue
See Similar DealsMultiFamily4,368 SF
Sold 06/03/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$228
Total Square Footage:4,368 SF
Transaction Type:Sale
A two-family home at 68-70 Billings Ave in Medford, MA, was sold for $1,000,000, offering a prime opportunity for ownership in the desirable South Medford/Tufts area with convenient access to major routes, transportation, and amenities. The property consists of 2 units spanning 2,184 square feet, with each unit valued at $500,000 and a price per square foot of $458.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,000,000
- Address: 68-70 Billings Avenue, Medford, MA
- Market: Medford, MA
- Brokers: Chuck Andre & Scott Cutler - RE/MAX Andrew Realty Services
The sale was facilitated by Chuck Andre & Scott Cutler from RE/MAX Andrew Realty Services, showcasing their expertise in the Medford real estate market. This transaction highlights their ability to connect buyers with prime investment opportunities in the South Medford/Tufts area.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$53,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,552.80
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,740.51
Annual Debt Service$56,886.12
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