Phillip Phillips Acquires Multifamily Property In South Boston For $2.4M
SOLD
$2,375,000
Virginia
See Similar DealsMultiFamily3,174 SF
Sold 01/06/2021
SOLD
Phillip Phillips Acquires Multifamily Property In South Boston For $2.4M
717 E 2nd St, South Boston, Boston, MA, USA
See Similar DealsMultiFamily3,174 SF
Sold 01/06/2021
Summary
VIRGINIA
Asset Type:MultiFamily
Price Per Square Foot:$748
Total Square Footage:3,174 SF
Transaction Type:Sale
A multifamily property located at 717 E 2nd St in South Boston has been sold for $2,375,000. The property spans 3,174 square feet, resulting in a price per square foot of $748. It is comprised of 3 units, with each unit valued at approximately $791,667.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,375,000
- Address: 717 E 2nd St
- Market: South Boston
The buyer of the property is Phillip Phillips, and the seller is Jbm Sb Venture LLC.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$126,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$8,437.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$11,258.71
Annual Debt Service$135,104.54
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