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.
South 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
9.00%
Cash-on-Cash
-2.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93