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Mgs Group Real Estate Acquires Boston Multifamily For $4.4M
SOLD
$4,400,000
Massachusetts
See Similar DealsMultiFamily5,679 SF
Sold 07/28/2023
SOLD
Mgs Group Real Estate Acquires Boston Multifamily For $4.4M
389 Commonwealth Ave Boston, MA 02115, USA
See Similar DealsMultiFamily5,679 SF
Sold 07/28/2023
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$774
Total Square Footage:5,679 SF
Transaction Type:Sale
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.
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Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$234,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$15,632.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$20,858.24
Annual Debt Service$250,298.94
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