News: Front Section
Posted: December 6, 2012
Cawley and Braun of United Multi Family arrange $1.15 million sale
United Multi Family brokered the sale of a six unit wood frame apartment building built in 1910 at 50-52 Shepard St. for $1.15 million ($191,667 per unit).
Richard Cawley and Jason Braun of United Multi Family handled the sale.
The property was sold by Winter Dreams Trust to 50-52 Shepard Street LLC. Financing provided by Needham Bank.
Located in the Saint Elizabeth Hospital area the unit mix included 1-three bedroom, 2-two bedroom, 2-one bedroom and 1-studio apartment. Due to its location and potential expansion the property sold at a 5.22% CAP rate with a gross annual income of $93,840.
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