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32 Cummins Highway, Boston,...

M. J. Grappo Realty Associates Acquires Multifamily Property In Boston For $5.68M
SOLDMultiFamily

M. J. Grappo Realty Associates Acquires Multifamily Property In Boston For $5.68M

32 Cummins Highway, Boston, Massachusetts 02131, United States

$5,680,000

$457/SF

Building Size

12,415 SF

Asset Type

MultiFamily

Closing

Apr 21, 2022

AI

Located at 32 Cummins Hwy in Boston, Massachusetts, this multifamily property was recently sold in a closed transaction. The sale was facilitated by Michael J. Grappo of M. J. Grappo Realty Associates, representing the buyer, and Chris Kostopoulos of Keller Williams Realty Chestnut Hill, representing the seller. The property spans across 12,415 square feet, with a sale price of $5,680,000, resulting in a price per square foot of $458.

Summary of Transaction Details

This successful transaction showcases the expertise of the buyer's representative, Michael J. Grappo, and the seller's representative, Chris Kostopoulos. With their guidance, the buyer and seller were able to negotiate a mutually beneficial deal for this multifamily property in Boston, Massachusetts.

Players

Chris Kostopoulos

Keller Williams Realty

Broker

$11.4M

vol

6 deals

Broker

Boston MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.79%

Cash-on-Cash

-0.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93