News: Front Section
Posted: November 30, 2010
Cawley and Braun of United Multi Family broker $545,000 apartment building sale
United Multi Family (UMF) brokered the sale of a 6 unit apartment building comprised of all one bedrooms at 110 Pleasant St. for $545,000 ($90,833 per unit).
The transaction was handled by Richard Cawley and Jason Braun. The masonry residences were built in 1974 and sold by L. Marinelli Realty Trust to 110 Pleasant Street Realty Trust. The buyer paid "all cash" and closed in less than thirty days.
UMF generated multiple offers less than 48 hours from listing the property by exposing it to the 10,000 plus investors in it's proprietory database. The CAP rate at the time of sale was 7.90% with the property having a gross annual income of $60,540.
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