Mgs Group Real Estate Acquires Boston Multifamily For $4.4M
389 Commonwealth Ave Boston, MA 02115, USA
$4,400,000
$774/SF
Building Size
5,679 SF
Asset Type
MultiFamily
Closing
Jul 28, 2023
AI
A multifamily property located at 389 Commonwealth Ave in Boston, MA was sold for $4.4 million on July 28, 2023. The property spans 5,679 square feet and achieved a price per square foot of $775.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,400,000
- Address: 389 Commonwealth Ave, Boston, MA
- Market: Boston, MA
- Buyer's Representative: Michael Harper - Mgs Group Real Estate
- Seller's Representative: Brett Derocker - First Boston Realty International
Michael Harper of Mgs Group Real Estate represented the buyer in this transaction. Brett Derocker of First Boston Realty International represented the seller.
Players
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
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93