News: Front Section
Posted: October 18, 2012
Cawley and Braun of United Multi Family broker $5.25 million sale; M.J. Realty Trust II sold the property to Hampshire, LLC
United Multi Family (UMF) recently brokered the sale of a 30 unit apartment building at 14 Murdock St. for $5.25 milion ($175,000 per unit).
The sale was handled by Richard Cawley and Jason Braun of the New England office of UMF. The brick residences were built in 1972. M.J. Realty Trust II sold the property to Hampshire, LLC. Financing provided by Leader Bank N.A.
Located within walking distance to Tufts University the property is comprised of 12-two bedroom, 17-one bedroom and 1-studio apartment. Most of the units had been renovated with newer kitchen cabinets and updated common areas. Each unit had off street parking and there was coin-op laundry on site. The CAP rate at the time of sale was 5.42% with the property having a gross annual income of $420,720.
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