Updated Oct 29, 2024
Brutus Executive Group Secures $937,500 Loan For Multifamily Property In Boston, MA With GenWealth Capital Co
17 Michigan Avenue, Boston, Massachusetts, USA
$937,500
$176/SF
Building Size
5,316 SF
Asset Type
MultiFamily
Closing
Nov 18, 2020
About this deal
AI
The property involved in this closed transaction is a multifamily located at 17 Michigan Avenue in Boston, MA. The transaction took place on November 19, 2020.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $937,500
- Market: Boston, MA
The property is owned by Brutus Executive Group LLC. The lender for this transaction is GenWealth Capital Co. The loan amount approved for this transaction is $937,500. It was approved for 75% loan-to-value (LTV) for rate and term, with a 30-year fixed term.
Players
Boston MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
16.92%
Cash-on-Cash
-4.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93