Bill Le Acquires Multifamily Property In South Boston For $1.435M
SOLD
Massachusetts
See Similar DealsMultiFamily1,968 SF
Sold 07/02/2024
SOLD
Bill Le Acquires Multifamily Property In South Boston For $1.435M
651 East Seventh Street
See Similar DealsMultiFamily1,968 SF
Sold 07/02/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$729
Total Square Footage:1,968 SF
Transaction Type:Sale
The multifamily property located at 651 East Seventh Street in South Boston, MA, was recently sold for $1,435,000. The transaction involved 2 units with a price per unit of $717,500. The building spans 1,968 square feet, equating to a price per square foot of $729.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,435,000
- Units: 2
- Square Footage: 1,968
- Price Per Unit: $717,500
- Price Per Square Foot: $729
- Address: 651 East Seventh Street, South Boston, MA
Ryan Quinn and John Federico from Grove Property Group acted as the brokers representing the buyer, Bill Le, and the seller, Frank Kenefick, in this property transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$76,533.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,098.26
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,802.63
Annual Debt Service$81,631.59
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