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16 Armstrong Street, Boston...

Updated Sep 9, 2024

Buyers Brokers Only Acquires Multifamily Property On Armstrong Street For $1.36M
SOLDMultiFamily

Buyers Brokers Only Acquires Multifamily Property On Armstrong Street For $1.36M

16 Armstrong Street, Boston, Jamaica Plain, Massachusetts, USA

$1,360,000

$346/SF

Building Size

3,930 SF

Asset Type

MultiFamily

Closing

Jan 20, 2021

About this deal

AI

Located in Boston, MA, the multifamily property at 16 Armstrong Street has recently been sold in a closed transaction. The sale, which took place on 01/21/2021, was brokered by Barrie Naji of Coldwell Banker Realty - Dedham, representing the seller, and Femion Mezini of Buyers Brokers Only, Llc, representing the buyer.

Summary of transaction details:

  • Property Type: Multifamily
  • Sale Price: $1,360,000
  • Units: 3
  • Price Per Unit: $453,333
  • Square Footage: 3,930
  • Price Per Square Foot: $346

The property at 16 Armstrong Street offers a prime investment opportunity in the Boston market. With its 3,930 square feet of space, it consists of three units, making the price per unit $453,333. The sale price of $1,360,000 equates to a price per square foot of $346. This transaction underscores the strong demand for multifamily properties in the area.

Barrie Naji, from Coldwell Banker Realty - Dedham, successfully represented the seller during the negotiation process. On the buyer's side, Femion Mezini, from Buyers Brokers Only, Llc, ensured the buyer's interests were well-represented. Their expertise and dedication played a crucial role in facilitating this successful sale.

Players

Femion Mezini

Capital Realty Group

Broker

$18.7M

vol

6 deals

Broker
Buyers Brokers Only
Buyers Brokers OnlyBrokerage

Boston MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $346 per square foot on a published $1.4M for 3,930 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

11.66%

Cash-on-Cash

-3.33%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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