Newman Properties Acquires Winthrop, MA Residential Property For $6M
SOLD
$6,000,000
Massachusetts
See Similar DealsOther10,467 SF
Sold 10/02/2020
SOLD
Newman Properties Acquires Winthrop, MA Residential Property For $6M
87 Winthrop Shore Dr, Winthrop, MA 02152, USA
See Similar DealsOther10,467 SF
Sold 10/02/2020
Summary
MASSACHUSETTS
Asset Type:Other
Price Per Square Foot:$573
Total Square Footage:10,467 SF
Transaction Type:Sale
The residential property located at 87-90 Winthrop Shore Drive in Winthrop, MA has been sold for a total price of $6,000,000. The property consists of 38 units, resulting in a price per unit (PPU) of $157,895.
Summary of transaction details
- Property Type: Residential
- Transaction Amount: $6,000,000
- Units: 38
- Price Per Unit (PPU): $157,895
- Address: 87-90 Winthrop Shore Drive, Winthrop, MA
- Market: Winthrop, MA
The buyer of the property is Newman Properties, represented by Matthew Newman.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$319,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73
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