United Multi Family (UMF) brokered the sale of a 24 unit apartment building at 243 Park St. for $1.86 million ($77,500 per unit).
Richard Cawley and Jason Braun of UMF handled the sale. The brick residences were built in 1968. The property was sold by 243 Park Street Realty Trust to 243 Park Street LLC. Financing was provided by The Bank of Canton.
The property consisted of 18-two bedroom and 6-one bedroom units with each having a patio or balcony.
The CAP rate at the time of sale was 10.19% with the property having a gross annual income of $290,640.