Caritas Communities Acquires Lodging House In Quincy, MA For $915,000
46 Winter Street
$915,000
$237/SF
Building Size
3,848 SF
Asset Type
MultiFamily
Closing
Sep 12, 2022
AI
A lodging house located at 46 Winter St in Quincy, MA was recently sold. The property comprises 17 units with a total area of 3,848 square feet. The sale price for the lodging house was $915,000, resulting in a price per unit of $53,824 and a price per square foot of $238.
Summary of transaction details:
- Property Type: Lodging House
- Transaction Amount: $915,000
- Address: 46 Winter St, Quincy, MA
- Market: Quincy, MA
- Units: 17
- Price per Unit: $53,824
- Total Area: 3,848 square feet
- Price per Square Foot: $238
The buyer of the lodging house was Caritas Communities, while John & Susan Grazer acted as the sellers. Kirsten McEleney from Advisors Living represented the sellers in the transaction.
It is worth mentioning that Caritas Communities is an organization that has been providing safe and secure housing in Greater Boston since 1985. Their mission is to prevent homelessness by offering very low-income individuals permanent housing, support, a sense of community, and expanded opportunities. For more information on Caritas Communities, including ways to donate and get involved, you can visit their website at www.caritascommunities.org.
Quincy 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
17.34%
Cash-on-Cash
-4.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93