MGM Capital Purchases Multifamily Property From SEE Real Estate For $6.84 Million In Boston
SOLD
$6,840,000
Massachusetts
See Similar DealsMultiFamily7,650 SF
Sold 07/19/2024
SOLD
MGM Capital Purchases Multifamily Property From SEE Real Estate For $6.84 Million In Boston
291 Beacon Street
See Similar DealsMultiFamily7,650 SF
Sold 07/19/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$894
Total Square Footage:7,650 SF
Transaction Type:Sale
This multifamily asset located at 291 Beacon Street in Boston, MA was sold for $6,840,000. The property encompasses 10 units spread over 7,650 square feet, resulting in a price per unit of $684,000 and a price per square foot of $894.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,840,000
- Address: 291 Beacon Street
- Market: Boston, MA
- Units: 10
- Square Footage: 7,650
- Price Per Unit: $684,000
- Price Per Square Foot: $894
- Buyer: MGM Capital
- Seller: SEE Real Estate
- Brokers: Ryan Taylor, Brayden Haney & Justin Pepple - Fortune Realty
The transaction involved MGM Capital as the buyer and SEE Real Estate as the seller. The deal was facilitated by brokers Ryan Taylor, Brayden Haney, and Justin Pepple, who represent Fortune Realty, highlighting their roles in bringing the transaction to fruition.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$364,800.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$24,301.08
Cash-on-Cash Return-1.27%
Monthly Debt Service$32,425.09
Annual Debt Service$389,101.08
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