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324 Summit Avenue

Danny Zheng & David Dobrowolski Broker MultiFamily Sale In Boston For $1.63M
SOLDMultiFamily

Danny Zheng & David Dobrowolski Broker MultiFamily Sale In Boston For $1.63M

324 Summit Avenue

$1,630,000

$566/SF

Building Size

2,880 SF

Asset Type

MultiFamily

Closing

Jun 24, 2024

AI

A brick 3-family property at 324 Summit Ave., Boston, sold for $1.63 million, featuring three fully leased apartments and city approval to add a fourth unit. The investment offers $93,600 annual rental income and includes 4 deeded parking spaces, with convenient access to Brighton and Brookline amenities.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $1,630,000
  • Units: 3
  • Price per Unit: $543,333
  • Square Footage: 2,880
  • Price per Square Foot: $566
  • Address: 324 Summit Avenue
  • Market: Boston, MA

The buyer's representative for this transaction was Danny Zheng from Keller Williams, while the seller's representative was David Dobrowolski from Block Realty.

Players

Danny Zheng

Keller Williams Realty

Broker

$27M

vol

19 deals

Broker

Brighton 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

9.73%

Cash-on-Cash

-2.78%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93