United Multi Family brokered the sale of a 12-unit apartment building at 154-164 Granite St. for $1.3 million.
Handled by Richard Cawley and Jason Braun of the New England office, the wood frame with aluminum siding residences were built in 1906 and sold by Allen-Campbell Realty Trust to Heritage Properties with financing provided by Eastern Bank.
The CAP rate at the time of sale was 5.24% with the property having a gross annual income of $102,840.
The new owner is planning an extensive renovation of the property.