240 Comm Avenue LLC Acquires Multifamily Property In Boston, MA For $16.1M
SOLD
$8,100,000
Massachusetts
See Similar DealsMultiFamily7,848 SF
Sold 10/16/2020
SOLD
240 Comm Avenue LLC Acquires Multifamily Property In Boston, MA For $16.1M
222 Commonwealth Avenue, Boston, MA 02116, USA
See Similar DealsMultiFamily7,848 SF
Sold 10/16/2020
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$1,032
Total Square Footage:7,848 SF
Transaction Type:Sale
The multifamily property located at 240 Commonwealth Ave & 238 Commonwealth Ave in Boston, MA was recently sold in a closed transaction. The property spans approximately 12,764 square feet, with a sale price of $16,100,000. This equates to a price per square foot of $1,261.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16,100,000
- Square Footage: 12,764
- Price per Square Foot: $1,261
- Address: 240 Commonwealth Ave & 238 Commonwealth Ave, Boston, MA
- Market: Boston, MA
The seller of the property was Joseph Palermino, while the buyer was 240 Comm Avenue Llc.
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$432,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,777.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$38,398.13
Annual Debt Service$460,777.59
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