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
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