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541 Norfolk Street, Boston,...

MIG Acquires Multifamily Property On Norfolk Street, Boston For $770K
SOLDMultiFamily

MIG Acquires Multifamily Property On Norfolk Street, Boston For $770K

541 Norfolk Street, Boston, Massachusetts 02126, United States

$770,000

$237/SF

Building Size

3,240 SF

Asset Type

MultiFamily

Closing

Oct 26, 2022

AI

The multifamily property located at 541 Norfolk Street in Boston, MA has been sold. The sale was facilitated by brokers Jeff Ravelo and Robert Nichols of MIG. The transaction took place on October 27, 2022. The property consists of 3 units, with a total square footage of 3,240. The sale price for the property was $770,000, resulting in a price per unit of $256,667 and a price per square foot of $238.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $770,000
  • Address: 541 Norfolk Street, Boston, MA
  • Market: Boston, MA
  • Brokers: Jeff Ravelo - MIG, Robert Nichols - MIG
  • Units: 3
  • Price per Unit: $256,667
  • Total Square Footage: 3,240
  • Price per Square Foot: $238

The sale of the property at 541 Norfolk Street was a successful transaction facilitated by Jeff Ravelo and Robert Nichols of MIG. The property offers 3 units with a total of 3,240 square footage. The sale price for the property was $770,000, resulting in a price per unit of $256,667 and a price per square foot of $238.

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

20.60%

Cash-on-Cash

-5.89%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93