Travis Lee Acquires Multifamily Property In Dorchester For $7.1M
56-58 Bowdoin Avenue, Dorchester, Boston, MA, USA
$7,100,000
$224/SF
Building Size
31,570 SF
Asset Type
MultiFamily
Closing
Dec 21, 2020
AI
A multifamily property located at 56-58 Bowdoin Avenue in Dorchester, Boston has been sold in a transaction that closed on December 22, 2020. The property, consisting of 31,570 square feet, was sold for a total price of $7,100,000, resulting in a price per square foot of $225. It comprises 31 units, with an average price per unit of $229,032.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,100,000
- Address: 56-58 Bowdoin Avenue
- Market: Dorchester, Boston
The seller of the property was Joseph E. Allen, while the buyer was Travis Lee, representing TLee Development LLC. Bridgestone Properties, with Benjamin Virga and Sheila Traphagen as the brokers, facilitated the transaction.
Players
Boston MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.23%
Cash-on-Cash
-0.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93