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Kim Covino Of Compass Represents Buyer In $1.355M East Boston Multifamily Sale

Property Image
SOLD
$1,355,000

Massachusetts

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MultiFamily2,916 SF
Sold 07/03/2024
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Property Image
SOLD

Kim Covino Of Compass Represents Buyer In $1.355M East Boston Multifamily Sale

89 Princeton Street

See Similar Deals
MultiFamily2,916 SF
Sold 07/03/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$464
Total Square Footage:2,916 SF
Transaction Type:Sale

The property asset involved in the transaction is a newly renovated multifamily home located at 89 Princeton Street in East Boston, MA. It features three fully leased units that were renovated in 2019 and 2020. The building has modern amenities, including HVAC, hardwood floors, crown moldings, and updated kitchens equipped with stainless steel appliances and quartz countertops. The total sale price for the property was $1,355,000, with a price per unit of $451,667 and a price per square foot of $465. The total square footage is 2,916.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,355,000
  • Units: 3
  • Square Footage: 2,916
  • Price Per Unit: $451,667
  • Price Per Square Foot: $465
  • Buyer's Representative: Kim Covino - Compass
  • Seller's Representative: The Residential Group - William Raveis Real Estate

The deal involves Kim Covino representing the buyer, while The Residential Group, led by William Raveis Real Estate, represents the seller in this transaction. The cooperation between these agencies facilitated the successful sale of the multifamily property in the East Boston market.

Players

Kim Covino
8 deals$15.6M volume
BROKER

Details

SOLD
IMAGE: Kim Covino DATE: 07/03/2024 ADDRESS: 89 Princeton Street MARKET: East Boston, MA ASSET TYPE: Multifamily BUYER'S REP: Kim Covino - Compass (@Compass) SELLER'S REP: The Residential Group - William Raveis Real Estate (@WilliamRaveis) SALE PRICE: $1,355,000 UNITS: 3 ~ PPU: $451,667 SF: 2,916 ~ PPSF: $465 NOTE: 89 Princeton St in Boston, MA sold for $1,355,000. This newly renovated three-family home on Eagle Hill features fully leased units renovated in 2019 and 2020, equipped with modern amenities like HVAC, hardwood floors, crown moldings, and updated kitchens with stainless steel appliances and quartz countertops.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,814.04
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