News: Front Section
Posted: September 30, 2016
Cawley and Braun of United Multi Family broker two sales totaling $8 million
Rich Cawley, United Multi Family
Jason Braun, United Multi Family
Pembroke, MA United Multi Family (UMF) brokered the sale of a 38 unit apartment building at 180 Schoosett St. for $4.5 million ($118,421 per unit). The sale was handled by Richard Cawley and Jason Braun of UMF. The The property consists of vinyl sided residences and were built in 1995 and consisted of 4 two-story buildings with 4 three-bedroom/two bath, 17 two-bedrooms/two bath and 17 two-bedroom/one bath along with an on-site management office and coin-op laundry. The property was built under the regulations of Chapter 40B with 25% of the units being rented to tenants qualifying for affordable housing. The CAP rate at the time of sale was 8.30% with the property having a gross annual income of $583,800.
180 Schoosett Street - Pembroke, MA
4000 North Main Street -Fall River, MA
UMF also brokered the sale of a 49 unit apartment building at 4000 North Main St. in Fall River, Mass. for $3.5 million ($71,429 per unit). The sale was arranged by Braun. The vinyl siding residences were built in 1989 and were sold to a local investor with financing provided by Arbor Commercial.
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