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

Property Image
SOLD
$5,680,000

Massachusetts

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MultiFamily12,415 SF
Sold 04/22/2022
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Property Image
SOLD

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

32 Cummins Highway, Boston, Massachusetts 02131, United States

See Similar Deals
MultiFamily12,415 SF
Sold 04/22/2022
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$457
Total Square Footage:12,415 SF
Transaction Type:Sale

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
6 deals$11.4M volume
BROKER

Michael J. Grappo
1 deal$5.7M volume
BROKER

Details

SOLD
IMAGE: Chris Kostopoulos DATE: 04/22/2022 ADDRESS: 32 Cummins Hwy MARKET: Boston, MA ASSET TYPE: Multifamily BUYER'S REP: Michael J. Grappo - M. J. Grappo Realty Associates SELLER'S REP: Chris Kostopoulos - Keller Williams Realty Chestnut Hill SALE PRICE: $5,680,000 SF: 12,415 ~ PPSF: $458

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

$302,933.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$20,179.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,926.10
Annual Debt Service$323,113.17