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Eric Johnson & Alp Kantar Close $1.3M Multifamily Sale In Boston, MA

Property Image
SOLD
$1,300,000
Alp Kantar
Eric Johnson

Massachusetts

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MultiFamily3,288 SF
Sold 06/28/2024
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Property Image
SOLD

Eric Johnson & Alp Kantar Close $1.3M Multifamily Sale In Boston, MA

663 Columbia Road

See Similar Deals
MultiFamily3,288 SF
Sold 06/28/2024
Alp Kantar
Eric Johnson
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$395
Total Square Footage:3,288 SF
Transaction Type:Sale

A gutted "triple decker" at 663 Columbia Rd in Boston's Savin Hill neighborhood recently changed hands for $1.3 million. The multifamily property comprises 3,288 square feet and includes 3 units, translating to a price per unit of $433,333. With a price per square foot of $395, the asset offers views of downtown Boston and comes with 4 parking spaces.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,300,000
  • Units: 3
  • Price per Unit: $433,333
  • Square Footage: 3,288
  • Price per Square Foot: $395
  • Address: 663 Columbia Road, Boston, MA
  • Market: Boston, MA
  • Buyer's Rep: Eric Johnson - Compass
  • Seller's Rep: Alp Kantar - Boston Brokerage Group

Eric Johnson from Compass represented the buyer, while Alp Kantar from Boston Brokerage Group served as the seller's representative in this transaction.

Players

Eric Johnson
Compass
Eric Johnson
17 deals$34.4M volume
BROKER
Alp Kantar
Boston Brokerage Group
Alp Kantar
13 deals$28.7M volume
BROKER

Details

SOLD
IMAGE: IMAGE: Eric Johnson & Alp Kantar DATE: 06/28/2024 ADDRESS: 663 Columbia Road MARKET: Boston, MA ASSET TYPE: Multifamily BUYER'S REP: Eric Johnson (@EricWadeJohnson) - Compass (@Compass) SELLER'S REP: Alp Kantar - Boston Brokerage Group (@Boston_Brokerage_Group) SALE PRICE: $1,300,000 UNITS: 3 ~ PPU: $433,333 SF: 3,288 ~ PPSF: $395 NOTE: A gutted "triple decker" at 663 Columbia Rd in Boston's Savin Hill neighborhood sold for $1.3 million. The 3,891 sq ft property, ideal for value-add investment or long-term rental, features 4 parking spaces and offers views of downtown Boston.

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

$69,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,618.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,162.66
Annual Debt Service$73,951.96