United Multi Family (UMF) brokered the sale of a 15-unit apartment building at 1681-1683 Commonwealth Ave., for $3 million ($200,000 per unit).
Richard Cawley and Jason Braun of UMF handled the sale. The brick residences were built in 1920 and were comprised of 7 two-bedroom, 4 1.5-bedroom and 4 one-bedroom units. The property was sold by Commonwealth Trust II to Greenline LJS LLC.
Financing was provided by Eastern Bank. The CAP rate at the time of sale was 3.19% with the property having a gross annual income of $201,300.