Mikael Vienneau Acquires Multifamily Property In Chelsea, MA For $4M
268 & 278-280 Washington Ave
$4,000,100
$307/SF
Building Size
12,995 SF
Asset Type
MultiFamily
Closing
Apr 14, 2023
AI
The multifamily property located at 268 & 278-280 Washington Ave in Chelsea, MA has been sold in a closed transaction. The property consists of 16 units with a total square footage of 12,995. The sale price for this transaction was $4,000,100, resulting in a price per unit of $250,006 and a price per square foot of $308.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,000,100
- Units: 16
- Price per Unit: $250,006
- Square Footage: 12,995
- Price per Square Foot: $308
- Address: 268 & 278-280 Washington Ave, Chelsea, MA
- Seller: Milan Patel
- Buyer: Mikael Vienneau
- Brokers: Dennis Kelleher & John Pentore - Horvath & Tremblay
Leading the deal were brokers Dennis Kelleher and John Pentore from Horvath & Tremblay. Mikael Vienneau served as the buyer, while Milan Patel acted as the seller. These individuals and companies played crucial roles in facilitating the successful transaction of the multifamily property.
Players
Market 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
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93