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Premium Realty Acquires Multifamily Property In Newton, MA For $1.6M

Property Image
SOLD
$1,600,000

Massachusetts

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MultiFamily3,906 SF
Sold 11/22/2021
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Property Image
SOLD

Premium Realty Acquires Multifamily Property In Newton, MA For $1.6M

9-11 Glazer Rd, Newton, MA, USA

See Similar Deals
MultiFamily3,906 SF
Sold 11/22/2021
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$409
Total Square Footage:3,906 SF
Transaction Type:Sale

The multifamily property located at 9-11 Glazer Rd in Newton, MA has been sold for $1,600,000. The transaction took place on 11/22/2021, with a total of 2 units in the property. The price per unit was $800,000, and the property spans over 3,906 square feet with a price per square foot of $410.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,600,000
  • Buyer's Representative: Jagrti Patel - Premium Realty, Inc.
  • Seller's Representative: Ed Lyon - Preservation Properties
  • Address: 9-11 Glazer Rd
  • Market: Newton, MA
  • Units: 2
  • Price Per Unit: $800,000
  • Square Footage: 3,906
  • Price Per Square Foot: $410

Jagrti Patel, representing Premium Realty, Inc., acted as the buyer's representative in this transaction. Ed Lyon, from Preservation Properties, served as the seller's representative. This successful sale demonstrates the demand for multifamily properties in the Newton, MA market.

Players

9 deals$12.1M volume
BROKER

Details

SOLD
IMAGE: Ed Lyon DATE: 11/22/2021 ADDRESS: 9-11 Glazer Rd MARKET: Newton, MA ASSET TYPE: Multifamily BUYER'S REP: Jagrti Patel - Premium Realty, Inc. SELLER'S REP: Ed Lyon - Preservation Properties SALE PRICE: $1,600,000 UNITS: 2 ~ PPU: $800,000 SF: 3,906 ~ PPSF: $410

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80