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86-88 Melrose Street

Barbara Nolan & Peter Bouchie Sell 86-88 Melrose St, Arlington Multifamily For $1.275M
SOLDMultiFamily

Barbara Nolan & Peter Bouchie Sell 86-88 Melrose St, Arlington Multifamily For $1.275M

86-88 Melrose Street

$1,275,000

$450/SF

Building Size

2,833 SF

Asset Type

MultiFamily

Closing

Jun 27, 2024

AI

The property at 86-88 Melrose St, Arlington, MA 02474, sold for $1,275,000. This classic two-family home, built in 1925 and renovated in 1955, features five bedrooms across two units, with amenities including a two-car garage and proximity to Alewife T, bike paths, restaurants, and major routes, offering potential for updates and convenience in East Arlington.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $1,275,000
  • Units: 2
  • Price Per Unit: $637,500
  • Square Footage: 2,833
  • Price Per Square Foot: $450
  • Address: 86-88 Melrose Street, Arlington, MA
  • Market: Arlington, MA

Barbara Nolan & Peter Bouchie represented the deal as Coldwell Banker brokers.

Players

Peter Bouchie

Coldwell Banker

Broker

$3.3M

vol

3 deals

Broker

Arlington 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

12.44%

Cash-on-Cash

-3.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93