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Bonnie Pierce Of Wallace & Co. Sotheby's Realty Acquires 1.9 Acre Multifamily Property In Edgartown, MA For $2.7M

Property Image
SOLD
$2,700,000

Massachusetts

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MultiFamily984 SF
Sold 11/22/2021
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Property Image
SOLD

Bonnie Pierce Of Wallace & Co. Sotheby's Realty Acquires 1.9 Acre Multifamily Property In Edgartown, MA For $2.7M

8 Trapps Pond Road, Edgartown, MA 02539

See Similar Deals
MultiFamily984 SF
Sold 11/22/2021
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$2,743
Total Square Footage:984 SF
Transaction Type:Sale

Located in Edgartown, MA, the multifamily property at 8 Trapps Pond Rd has recently been sold in a closed transaction. The property spans across 1.9 acres, offering a spacious and desirable environment for its residents. The sale took place on November 22, 2021, with a sale price of $2,700,000. The property comprises a total of 984 square feet, leading to a price per square foot of $2,744.

Summary of Transaction Details

  • Property Type: Multifamily
  • Transaction Amount: $2,700,000
  • Address: 8 Trapps Pond Rd
  • Market: Edgartown, MA
  • Acres: 1.9

The buyer in this transaction was represented by Bonnie Pierce from Wallace & Co. Sotheby's International Realty. On the other hand, Trish Lyman from Point B Realty served as the seller's representative. Their expertise and negotiation skills facilitated a successful deal between the parties involved.

Players

Bonnie Pierce
4 deals$9M volume
BROKER

Trish Lyman
Point B Realty
2 deals$5.8M volume
BROKER

Details

SOLD
IMAGE: Trish Lyman & Bonnie Pierce DATE: 11/22/2021 ADDRESS: 8 Trapps Pond Rd MARKET: Edgartown, MA ASSET TYPE: Multifamily ~ ACRES: 1.9 BUYER'S REP: Bonnie Pierce - Wallace & Co. Sotheby's International Realty SELLER'S REP: Trish Lyman - Point B Realty SALE PRICE: $2,700,000 SF: 984 ~ PPSF: $2,744

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

$144,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,592.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$12,799.38
Annual Debt Service$153,592.53