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451 Norfolk Street

MIG Realty Acquires 16-Unit Multifamily In Boston For $4.55M
SOLDMultiFamily

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

Jeff Ravelo

MIG Realty

Broker

$26.1M

vol

16 deals

Broker

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