Zachary Conley Of Nextgen Realty Represents Buyer In 464 Summer Street Multifamily Sale For $2.435M
464 Summer Street
$2,435,000
$509/SF
Building Size
4,778 SF
Asset Type
MultiFamily
Closing
Jul 12, 2024
AI
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
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
6.51%
Cash-on-Cash
-1.86%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93