United Multi Family brokers $2.25 million sale of 63 units

United Multi Family (UMF) brokered the sale of two apartment buildings totaling 63 units at 128 Collins St. (39 units) and 61 Willard St. (24 units) for $2.25 million. Rich & Matt Cawley of UMF represented the seller and Raveis RE represented the buyer with financing provided by Meridien Capital. The Willard St. property is a three-story brick garden style built in 1960 with 23 two-bedroom and 1 one-bedroom apartments. The Collins St. property is a four-story brick building built in 1969 with an elevator comprised of 6 two-bedroom and 33 one-bedroom apartments. The CAP rate for the package at the time of sale was 10.62% with the properties having a gross annual income of $525,976.