MIG Realty Acquires 16-Unit Multifamily In Boston For $4.55M
451 Norfolk Street
$4,550,000
$4,554/SF
Building Size
999 SF
Asset Type
MultiFamily
Closing
Oct 5, 2022
AI
A multifamily property located at 451 Norfolk St in Boston, MA has been sold in a recent transaction. The property consists of 16 units with an average price per unit of $284,375. The total sale price for the property was $4,550,000. The property spans 999 square feet with an average price per square foot of $4,555.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,550,000
- Units: 16
- Price per Unit: $284,375
- Square Footage: 999
- Price per Square Foot: $4,555
The sale was facilitated by Hakim Sadler and Jeff Ravelo from MIG Realty. They represented the buyer and seller in the transaction, serving as the brokers for the deal.
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
3.49%
Cash-on-Cash
-1.00%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93