News: Front Section
Posted: July 11, 2013
Cawley and Braun of United Multi Family broker $3 million sale of 15-unit apartment building
United Multi Family (UMF) brokered the sale of a 15-unit apartment building at 1681-1683 Commonwealth Ave., for $3 million ($200,000 per unit).
Richard Cawley and Jason Braun of UMF handled the sale. The brick residences were built in 1920 and were comprised of 7 two-bedroom, 4 1.5-bedroom and 4 one-bedroom units. The property was sold by Commonwealth Trust II to Greenline LJS LLC.
Financing was provided by Eastern Bank. The CAP rate at the time of sale was 3.19% with the property having a gross annual income of $201,300.
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