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Rhino Capital Advisors Acquires Multifamily Property In Newton, MA For $29.5M

Property Image
SOLD
$29,550,000

Massachusetts

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MultiFamily
Sold 12/20/2022
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Property Image
SOLD

Rhino Capital Advisors Acquires Multifamily Property In Newton, MA For $29.5M

83-87 Farwell Street, Newton, Massachusetts 02460, United States

See Similar Deals
MultiFamily
Sold 12/20/2022
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale

A multifamily property located at 83-87 Farwell St in Newton, MA has been sold. The transaction took place on 12/20/2022 and the property was purchased by Rhino Capital Advisors from Albemarle Realty Corp. The sale was facilitated by Garry Holmes from R.W. Holmes. The property consists of 112 units, with a sale price of $29,550,000. The price per unit is calculated to be $263,839.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $29,550,000
  • Date: 12/20/2022
  • Address: 83-87 Farwell St, Newton, MA
  • Buyer: Rhino Capital Advisors
  • Seller: Albemarle Realty Corp
  • Broker: Garry Holmes - R.W. Holmes
  • Units: 112
  • Price per Unit (PPU): $263,839

Garry Holmes from R.W. Holmes played a key role as the representative for Rhino Capital Advisors in this transaction, ensuring the successful completion of the deal.

Players

Garry Holmes
R.W. Holmes Commercial Real Estate
Garry Holmes
7 deals$66.9M volume
BROKER
RA
Rhino Capital Advisors
BUYER

Details

SOLD
IMAGE: Garry Holmes DATE: 12/20/2022 ADDRESS: 83-87 Farwell St MARKET: Newton, MA ASSET TYPE: Multifamily BUYER: Rhino Capital Advisors SELLER: Albemarle Realty Corp BROKER: Garry Holmes - R.W. Holmes (@RWHolmesRealty) SALE PRICE: $29,550,000 UNITS: 112 ~ PPU: $263,839

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

$1,576,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$104,984.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$140,082.08
Annual Debt Service$1,680,984.91