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169 I Street

Adam Burns Of Burns Realty & Investments Sells Multifamily Property In South Boston For $1.76M
SOLDMultiFamily

Adam Burns Of Burns Realty & Investments Sells Multifamily Property In South Boston For $1.76M

169 I Street

$1,763,020

$703/SF

Building Size

2,505 SF

Asset Type

MultiFamily

Closing

Sep 11, 2024

AI

A fully leased multifamily property located at 169 I Street in South Boston, MA was sold for $1,763,020. The brick row house encompasses 2,505 square feet and features 8 bedrooms and 3 bathrooms. Renovated in 2017, the property is in turn-key condition and generates a monthly rent of $12,300, ensuring strong cash flow through August 2025.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,763,020
  • Square Footage: 2,505
  • Price Per Square Foot: $704
  • Address: 169 I Street
  • Market: South Boston, MA
  • Broker: Adam Burns - Burns Realty & Investments

Adam Burns represented the seller in this transaction, highlighting his role as the broker for this property sale. The sale underscores the demand for multifamily assets in the South Boston market.

Players

Adam Burns

Burns Realty & Investments

Broker

$5.8M

vol

3 deals

Broker

South Boston MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

9.00%

Cash-on-Cash

-2.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93