News: Front Section
Posted: October 11, 2019
United Multi Family brokers sale of 12-unit property for $3.457m
Waltham, MA United Multi Family (UMF) brokered the sale of a 12-unit townhouse apartment building at 2-24 Lawton Place.
The property sold for $3.475 million or $289,583 per unit, and a 5.27% cap rate. Rich Cawley, Kurt Cawley, and Kyle Gossett of UMF handeld the sale. The property was sold by 2 Lawton LLC to Lawton Place Townhomes LLC, a local investor.
Financing was provided by Cambridge Trust. Cornerstone Realty Capital handled the financing.
The property benefited from it’s transit-oriented location near the Waltham MBTA commuter rail stop, and was well received by investors as a value-add offering.
in one of Greater Boston’s strongest rental markets.
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