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1851 Commonwealth Avenue

Mixed-Use Property At 1851 Commonwealth Avenue Sold For $2.1M In Boston By Ella Goren
SOLDMixed-use

Mixed-Use Property At 1851 Commonwealth Avenue Sold For $2.1M In Boston By Ella Goren

1851 Commonwealth Avenue

$2,100,000

$423/SF

Building Size

4,957 SF

Asset Type

Mixed-use

Closing

Sep 3, 2024

AI

A mixed-use property located at 1851 Commonwealth Avenue in Boston, MA, was sold for $2,100,000. The property has a total area of 4,957 square feet and includes 12 beds and 7 baths. It has received ZBA approval to convert into 6 residential units. Recent improvements have been made, and the property features 10 parking spaces, highlighting its potential for developers and investors in a prime location near Boston University and Cleveland Circle.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,100,000
  • Address: 1851 Commonwealth Avenue
  • Market: Boston, MA
  • Square Footage: 4,957
  • Price Per Square Foot: $424
  • Broker: Ella Goren - Sunrise Realty & Investment
  • Number of Beds: 12
  • Number of Baths: 7
  • ZBA Approval: Yes, for 6 residential units
  • Parking Spaces: 10

Ella Goren from Sunrise Realty & Investment represented the transaction, facilitating the sale and bringing valuable expertise in the market. The property’s recent improvements enhance its appeal and potential returns for prospective buyers, particularly in the competitive housing market near the university and city amenities.

Players

Ella Goren

Sunrise Realty & Investment

Broker

$4.8M

vol

3 deals

Broker

Brighton Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.55%

Cash-on-Cash

-2.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93