United Multi Family (UMF) brokered the sale of a 32 unit apartment building at 272, 282 and 292 Bedford St. for $3 million ($93,750 per unit). Richard Cawley and Jason Braun of the New England office of UMF handled the sale.
The brick residences known as Cedarwood Village were built in 1960 and sold by Cedarwood Village, LLC to Cedarwood Village Apartments, LLC.
Financing was provided by Digital Credit Union through Brian Sheehan of EagleBridge Capital.
The property was situated on a 3.65 acre site including on-site coin-op laundry, plenty of off-street parking and a separate newer building with a garage and office over it. The unit mix was 6 two-bedroom and 26 one-bedroom apartments.
The CAP rate at the time of sale was 8.24% with the property having a gross annual income of $397,800.