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Zachary Conley Of Nextgen Realty Represents Buyer In 464 Summer Street Multifamily Sale For $2.435M

Property Image
SOLD
$2,435,000

Massachusetts

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MultiFamily4,778 SF
Sold 07/12/2024
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Property Image
SOLD

Zachary Conley Of Nextgen Realty Represents Buyer In 464 Summer Street Multifamily Sale For $2.435M

464 Summer Street

See Similar Deals
MultiFamily4,778 SF
Sold 07/12/2024
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$509
Total Square Footage:4,778 SF
Transaction Type:Sale

A 4-family multifamily property located at 464 Summer Street in Boston, MA was sold for $2,435,000. The asset encompasses a total of 4,778 square feet, translating to a price per unit of $608,750 and a price per square foot of $510. The property features 11 beds and 8 baths, with luxury finishes resulting from a recent renovation.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,435,000
  • Units: 4
  • Price Per Unit: $608,750
  • Square Footage: 4,778
  • Price Per Square Foot: $510

Christopher Mehr from Full Circle Realty represented the buyer, while Zachary Conley from Nextgen Realty represented the seller. The property, situated near Piers Park and public transit, offers strong rent growth potential, underscored by its modern amenities and prime location appeal.

Players

Christopher (Chris) Mehr
5 deals$8.7M volume
BROKER

Zachary Conley
Nextgen Realty
4 deals$7.2M volume(617) 982-8607
BROKER

Details

SOLD
IMAGE: Zachary Conley & Christopher Mehr DATE: 07/12/2024 ADDRESS: 464 Summer Street MARKET: Boston, MA ASSET TYPE: Multifamily BUYER'S REP: Christopher Mehr (@The_Mehr_of_Real_Estate) - Full Circle Realty SELLER'S REP: Zachary Conley (@Boston_Bitcoin) - Nextgen Realty SALE PRICE: $2,435,000 UNITS: 4 ~ PPU: $608,750 SF: 4,778 ~ PPSF: $510 NOTE: A 4-family property in East Boston's Jeffries Point sold for $2,435,000, featuring 11 beds, 8 baths, and luxury finishes from a recent renovation. Positioned near Piers Park and public transit, it offers strong rent growth potential with modern amenities and prime location appeal.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$129,866.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$8,651.05
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,543.14
Annual Debt Service$138,517.71