Apisit Limlomwongse Acquires Multifamily Property In Boston For $24M
SOLD
Massachusetts
See Similar DealsMultiFamily31,400 SF
Sold 02/11/2021
SOLD
Apisit Limlomwongse Acquires Multifamily Property In Boston For $24M
20 Parmenter Street, Boston, Massachusetts, USA
See Similar DealsMultiFamily31,400 SF
Sold 02/11/2021
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$764
Total Square Footage:31,400 SF
Transaction Type:Sale
Located in Boston, MA, the multifamily property at 20 Parmenter Street & 244-246 Hanover Street has been sold in a recent transaction. The property, spanning 31,400 square feet, features 28 units, making it an attractive investment opportunity in the thriving market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $24,000,000
- Sale Price per Square Foot: $764
- Number of Units: 28
The sellers, Louis Karger and David Masse from Panther Residential Management, successfully closed the deal with the buyer, Apisit Limlomwongse representing Nexus Innovation of Boston. The purchase price for the property was $24,000,000, resulting in a per unit price of $857,143.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,279,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$85,266.94
Cash-on-Cash Return-1.27%
Monthly Debt Service$113,772.24
Annual Debt Service$1,365,266.93
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