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Zach Barron Of Core Property Group Sells 5-Unit Multifamily In Boston For $2.75M

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SOLD
$2,750,000

Massachusetts

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MultiFamily3,150 SF
Sold 05/30/2024
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SOLD

Zach Barron Of Core Property Group Sells 5-Unit Multifamily In Boston For $2.75M

345-347 Hanover Street

See Similar Deals
MultiFamily3,150 SF
Sold 05/30/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$873
Total Square Footage:3,150 SF
Transaction Type:Sale

The multifamily property located at 345-347 Hanover Street in Boston, MA, was sold for $2,750,000. This property consists of 5 units spanning 3,150 square feet, resulting in a price per unit of $550,000 and a price per square foot of $873.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,750,000
  • Units: 5
  • Price Per Unit: $550,000
  • Square Footage: 3,150
  • Price Per Square Foot: $873
  • Address: 345-347 Hanover Street, Boston, MA
  • Market: Boston, MA
  • Seller: Maria Krystofolski
  • Buyer's Rep: Zach Barron - Core Property Group

Zach Barron, representing Core Property Group, facilitated the sale of this 5 unit generational asset on Hanover Street. Core Property Group is a prominent player in the marketing, acquisition, and disposition of multifamily assets in Greater Boston and surrounding areas. With a current assets under management (AUM) of $200 million, Core Property Group offers a full management division, a dedicated leasing team, and a development arm, enabling them to provide comprehensive services and expert guidance to their clients.

Players

Zach Barron
7 deals$20.2M volume
BROKER

Details

SOLD
IMAGE: Zach Barron DATE: 05/30/2024 ADDRESS: 345-347 Hanover Street MARKET: Boston, MA ASSET TYPE: Multifamily SELLER: Maria Krystofolski BUYER'S REP: Zach Barron (@Real_Estate_Barron) - Core Property Group SALE PRICE: $2,750,000 UNITS: 5 ~ PPU: $550,000 SF: 3,150 ~ PPSF: $873 NOTE FROM BUYER'S REP: Zach Barron sold this 5 unit generational asset on Hanover Street in Boston's Historic North End. Core Property Group is a market leader in the marketing, acquisition & disposition of multifamily assets in Greater Boston and surrounding areas. Core Property Group currently has $200 MM AUM. Core has a full management division, a full leasing team and a development arm. Core’s experience and keen market knowledge allows them to advise their clients throughout the various market cycles.

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

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$9,770.18
Cash-on-Cash Return-1.27%
Monthly Debt Service$13,036.40
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