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Paul Scribner Acquires 3-Unit Multifamily In Medford For $1.625M

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SOLD
$1,625,000

Massachusetts

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MultiFamily4,900 SF
Sold 05/21/2024
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Property Image
SOLD

Paul Scribner Acquires 3-Unit Multifamily In Medford For $1.625M

87 Forest Street

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MultiFamily4,900 SF
Sold 05/21/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$331
Total Square Footage:4,900 SF
Transaction Type:Sale

The multifamily property located at 87 Forest Street in Medford, MA, was sold for $1,625,000. The property features 3 units, with a total square footage of 4,900 and a price per unit of $541,667. The price per square foot for this transaction was $332.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: $1,625,000
  • Units: 3
  • Square Footage: 4,900
  • Price Per Unit: $541,667
  • Price Per Square Foot: $332
  • Address: 87 Forest Street, Medford, MA

Paul Scribner purchased the property from Nicole Matarrazo. The transaction was facilitated by Stephen Dixon from Cameron Real Estate Group.

Players

Stephen Dixon
2 deals$2.7M volume(339) 666-1398
BROKER

Details

SOLD
IMAGE: Stephen Dixon DATE: 05/21/2024 ADDRESS: 87 Forest Street MARKET: Medford, MA ASSET TYPE: Multifamily BUYER: Paul Scribner SELLER: Nicole Matarrazo BROKER: Stephen Dixon (@SDix617) - Cameron Real Estate Group (@CameronRealEstateGroup) SALE PRICE: $1,625,000 UNITS: 3 ~ PPU: $541,667 SF: 4,900 ~ PPSF: $332

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

$86,666.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,773.29
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,703.33
Annual Debt Service$92,439.95