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George Sarkis Of Douglas Elliman Represents Buyer In $4.5M Multifamily Sale At 299 Beacon Street

Property Image
SOLD
$4,500,000

Massachusetts

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MultiFamily6,672 SF
Sold 09/05/2024
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Property Image
SOLD

George Sarkis Of Douglas Elliman Represents Buyer In $4.5M Multifamily Sale At 299 Beacon Street

299 Beacon Street

See Similar Deals
MultiFamily6,672 SF
Sold 09/05/2024
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$674
Total Square Footage:6,672 SF
Transaction Type:Sale

The property asset involved in the transaction is a multifamily building located at 299 Beacon Street in Boston, MA. The sale price for the property was $4,500,000, comprising 6 units with a price per unit of $750,000. The total square footage of the building is 6,672, resulting in a price per square foot of $674.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $4,500,000
  • Units: 6
  • Price Per Unit: $750,000
  • Square Footage: 6,672
  • Price Per Square Foot: $674
  • Buyer's Representative: George Sarkis - Douglas Elliman
  • Seller's Representative: Frank Carroll - Compass
  • Date of Transaction: 09/05/2024

The deal was represented by George Sarkis from Douglas Elliman acting on behalf of the buyer, while Frank Carroll from Compass represented the seller in this transaction. Both representatives played key roles in facilitating the sale of the multifamily asset in Boston's market.

Players

George Sarkis
6 deals$19.8M volume
BROKER

Frank Carroll
Compass
1 deal$4.5M volume(617) 721-7461
BROKER

Details

SOLD
IMAGE: George Sarkis & Frank Carroll DATE: 09/05/2024 ADDRESS: 299 Beacon Street MARKET: Boston, MA ASSET TYPE: Multifamily BUYER'S REP: George Sarkis - Douglas Elliman (@DouglasElliman) SELLER'S REP: Frank Carroll (@FrankCarroll7) - Compass (@Compass) SALE PRICE: $4,500,000 UNITS: 6 ~ PPU: $750,000 SF: 6,672 ~ PPSF: $674

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$240,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$15,987.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,332.30
Annual Debt Service$255,987.55