MGM Capital Purchases Multifamily Property From SEE Real Estate For $6.84 Million In Boston
291 Beacon Street
$6,840,000
$894/SF
Building Size
7,650 SF
Asset Type
MultiFamily
Closing
Jul 19, 2024
AI
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.
Players
Boston 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
2.32%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93