Josef Alves Acquires Multifamily Property At 2 Powers Court In Boston For $2.095M
SOLD
$2,095,000
Massachusetts
See Similar DealsMultiFamily2,655 SF
Sold 01/31/2025
SOLD
Josef Alves Acquires Multifamily Property At 2 Powers Court In Boston For $2.095M
2 Powers Court
See Similar DealsMultiFamily2,655 SF
Sold 01/31/2025
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$789
Total Square Footage:2,655 SF
Transaction Type:Sale
The multifamily property located at 2 Powers Court, Boston, MA, was sold for a transaction amount of $2,095,000. The asset includes 4 units and has a total square footage of 2,655. The price per unit stands at $523,750, while the price per square foot is $789.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $2,095,000
- Units: 4
- Square Footage: 2,655
- Price Per Unit: $523,750
- Price Per Square Foot: $789
- Buyer: Josef Alves
- Seller: Frank Federico
- Buyer's Representative: Scott Farrell - Compass
- Seller's Representative: Nicholas Bevilacqua - Horvath & Tremblay
The transaction involved key representations by Scott Farrell of Compass, representing the buyer, and Nicholas Bevilacqua of Horvath & Tremblay, representing the seller. Their roles were crucial in facilitating the sale of this property in the competitive Boston market.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$111,733.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$7,443.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,931.37
Annual Debt Service$119,176.43
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