Updated Sep 9, 2024
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
Boston 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
11.66%
Cash-on-Cash
-3.33%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93