Updated Sep 9, 2024
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
About this deal
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.
On the Map
$4,400,000
$774/SF
MultiFamily
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Players
Boston 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
3.61%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93