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Hakim Sadler & Jeff Ravelo Of MIG Realty Sell Boston Multifamily For $1.57M

Property Image
SOLD
$1,570,000

Massachusetts

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MultiFamily3,671 SF
Sold 05/24/2022
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Property Image
SOLD

Hakim Sadler & Jeff Ravelo Of MIG Realty Sell Boston Multifamily For $1.57M

58 Bartlett St, Boston, MA 02129

See Similar Deals
MultiFamily3,671 SF
Sold 05/24/2022
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$427
Total Square Footage:3,671 SF
Transaction Type:Sale

A multifamily property located at 56 Bartlett St & 58-60 Bartlett St in Boston, MA has been sold. The sale took place on 05/24/2022 and was facilitated by Hakim Sadler and Jeff Ravelo of MIG Realty. The property consists of 6 units with a total square footage of 3,671. The sale price for the property was $1,570,000, resulting in a price per unit of $261,667 and a price per square foot of $428.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,570,000
  • Address: 56 Bartlett St & 58-60 Bartlett St
  • Market: Boston, MA
  • Brokers: Hakim Sadler & Jeff Ravelo - MIG Realty
  • Units: 6
  • Price per Unit: $261,667
  • Square Footage: 3,671
  • Price per Square Foot: $428

The sale of this multifamily property in Boston highlights the successful transaction accomplished by Hakim Sadler and Jeff Ravelo of MIG Realty. Their expertise and professional representation contributed to achieving the sale price of $1,570,000. The property encompasses 6 units and offers a total of 3,671 square feet of living space. The price per unit for this transaction amounted to $261,667, while the price per square foot reached $428.

Players

Jeff Ravelo
16 deals$26.1M volume
BROKER

Hakim Sadler
MIG Realty
34 deals$68.3M volume
BROKER

Boston Trust Realty Group
BROKERAGE

Details

SOLD
IMAGE: Jeff Ravelo & Hakim Sadler DATE: 05/24/2022 ADDRESS: 56 Bartlett St & 58-60 Bartlett St MARKET: Boston, MA ASSET TYPE: Multifamily BROKERS: Hakim Sadler & Jeff Ravelo (@Jeff.Ravelo) - MIG Realty (@MIGRealty) SALE PRICE: $1,570,000 UNITS: 6 ~ PPU: $261,667 SF: 3,671 ~ PPSF: $428

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

$83,733.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,577.89
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,442.60
Annual Debt Service$89,311.21