Updated Oct 29, 2024
Phillip Phillips Acquires Multifamily Property In South Boston For $2.4M
717 E 2nd St, South Boston, Boston, MA, USA
$2,375,000
$748/SF
Building Size
3,174 SF
Asset Type
MultiFamily
Closing
Jan 5, 2021
About this deal
AI
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.
The multifamily sale at 717 E 2nd St, South Boston, Boston, MA, USA in South Boston, Virginia sold for $2.4M in 2021. Reported inventory is 3,174 square feet across 3 units, or about 748 per square foot. This page is the South Boston, Virginia file for the 717 E 2nd St, South Boston, Boston, MA, USA multifamily sold: pricing, party profiles, and other closed multifamily comps from the same South Boston sit in the Market section below. Filter that South Boston multifamily set by closing date to see what else sold near 717 E 2nd St, South Boston, Boston, MA, USA around 2021. Published consideration for 717 E 2nd St, South Boston, Boston, MA, USA is $2.4M, dated 2021. Cite this Phillip Phillips Acquires Multifamily Property In South Boston For $2.4M sale when underwriting similar multifamily product around South Boston, Virginia.
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South Boston MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.68%
Cash-on-Cash
-1.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93