Updated Dec 4, 2024
Rachel Cunningham Acquires MultiFamily In Boston For $1.25M
21 Mellen Street
$1,250,000
$324/SF
Building Size
3,848 SF
Asset Type
MultiFamily
Closing
Jun 26, 2024
About this deal
AI
A spacious Philadelphia-style two-family home at 21 Mellen St in Boston's Ashmont Hill neighborhood sold for $1.25 million. The property, built in 1900, comprises 7 bedrooms, 2 full baths, hardwood floors, and new heating systems. It spans 3,848 square feet and was sold at a price per unit of $625,000 with a price per square foot of $325.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $1,250,000
- Units: 2
- Square Footage: 3,848
- Address: 21 Mellen Street
- Market: Boston, MA
Rachel Cunningham represented the buyer through Vicente Realty in the sale, while Team Galvin of The Galvin Group acted as the seller's representative in this transaction.
Players
Dorchester Center 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
12.69%
Cash-on-Cash
-3.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93