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Jorge Betancur & Lisa Leonard Sell Multifamily Property In East Boston For $1.1M

Property Image
SOLD
$1,100,000
Jorge Betancur
Lisa Leonard

Massachusetts

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MultiFamily
Sold 06/14/2024
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Property Image
SOLD

Jorge Betancur & Lisa Leonard Sell Multifamily Property In East Boston For $1.1M

180 Bennington Street

See Similar Deals
MultiFamily
Sold 06/14/2024
Jorge Betancur
Lisa Leonard
the dealplayerscompscontact
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale

A triple-decker in East Boston located at 180 Bennington Street was recently sold for $1.1M. The property consists of 3 units with a total of 11 bedrooms, offering potential for increased revenue or condo conversion. Fully occupied with rents below market value, this multifamily asset presents an attractive opportunity for investors and developers in the vibrant East Boston neighborhood.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,100,000
  • Units: 3
  • Price Per Unit: $366,667
  • Address: 180 Bennington Street
  • Market: East Boston, MA

The sale was facilitated by Jorge Betancur & Lisa Leonard of Century 21 Mario Real Estate. The brokers represented both sides of the transaction, bringing together the buyer and seller for the successful deal.

Players

Jorge Betancur
Century 21
Jorge Betancur
3 deals$3.3M volume(508) 677-5570
BROKER
Lisa Leonard
Century 21
Lisa Leonard
1 deal$1.1M volume(617) 620-3178
BROKER

Details

SOLD
IMAGE: Lisa Leonar & Jorge Betancur DATE: 06/14/2024 ADDRESS: 180 Bennington Street MARKET: East Boston, MA ASSET TYPE: Multifamily BROKERS: Jorge Betancur & Lisa Leonard - Century 21 Mario Real Estate (@EBC21Mario) SALE PRICE: $1,100,000 UNITS: 3 ~ PPU: $366,667 NOTE: A triple-decker in East Boston sold for $1.1M, offering potential for increased revenue or condo conversion. With 11 bedrooms across three units, the property is fully occupied with rents below market value, presenting an opportunity for investors and developers in a vibrant East Boston neighborhood.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$58,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,908.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,214.56
Annual Debt Service$62,574.73