MIG Realty Acquires 16-Unit Multifamily In Boston For $4.55M
SOLD
$4,550,000
Massachusetts
See Similar DealsMultiFamily999 SF
Sold 10/05/2022
SOLD
MIG Realty Acquires 16-Unit Multifamily In Boston For $4.55M
451 Norfolk Street
See Similar DealsMultiFamily999 SF
Sold 10/05/2022
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$4,554
Total Square Footage:999 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$242,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$16,165.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$21,569.32
Annual Debt Service$258,831.86
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