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73 Fairfax Road

Karen McDermott Of Suburban Lifestyle Real Estate Represents Buyer In $1.32M Worcester Multifamily Sale
SOLDMultiFamily

Karen McDermott Of Suburban Lifestyle Real Estate Represents Buyer In $1.32M Worcester Multifamily Sale

73 Fairfax Road

$1,320,000

$243/SF

Building Size

5,424 SF

Asset Type

MultiFamily

Closing

Jul 2, 2024

AI

This multi-family property located at 73 Fairfax Road in Worcester, MA has a sale price of $1,320,000. The asset comprises six units and has a total square footage of 5,424, equating to a price per unit of $220,000 and a price per square foot of $243. The property has been recently renovated, featuring updated kitchens, bathrooms, flooring, stainless steel appliances, and new HVAC systems, with all utilities separated.

Summary of transaction details:

The transaction involved Karen McDermott representing the buyer, while Vito Neshev was the representative for the seller. Their respective roles underscore the collaboration between the two parties throughout the sales process.

Players

Vito Neshev

Broker

$3.5M

vol

2 deals

Broker

Worcester 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

12.02%

Cash-on-Cash

-3.43%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93