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:
- Property Type: MultiFamily
- Transaction Amount: $1,320,000
- Units: 6
- Square Footage: 5,424
- Price Per Unit: $220,000
- Price Per Square Foot: $243
- Buyer's Representative: Karen McDermott - Suburban Lifestyle Real Estate
- Seller's Representative: Vito Neshev
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
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