Torrington Properties Acquires Multifamily Property In South Boston For $1.45M
SOLD
$1,450,000
Massachusetts
See Similar DealsMultiFamily2,916 SF
Sold 03/24/2020
SOLD
Torrington Properties Acquires Multifamily Property In South Boston For $1.45M
165-167 K Street, South Boston, Boston, MA, USA
See Similar DealsMultiFamily2,916 SF
Sold 03/24/2020
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$497
Total Square Footage:2,916 SF
Transaction Type:Sale
The multifamily property located at 165-167 K Street in South Boston has been sold for a price of $1,450,000. The property has a total square footage of 2,916, resulting in a price per square foot of $497. The sale took place on March 24, 2020.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,450,000
- Square Footage: 2,916
- Price Per Square Foot: $497
- Address: 165-167 K Street, South Boston
- Date: March 24, 2020
- Seller: Red Dome Realty - JP Plunkett
- Buyer: Torrington Properties - Jay Bisognano, Matt Morgan, Brett Paganin
The seller's representative in this transaction was JP Plunkett from Red Dome Realty. On the buyer's side, the property was acquired by Torrington Properties, represented by Jay Bisognano, Matt Morgan, and Brett Paganin.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$77,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,151.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,873.74
Annual Debt Service$82,484.88
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