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
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