Cawley and Braun of United Multi Family broker $910,000 sale of 16-unit apartment building

United Multi Family brokered the sale of a 16-unit apartment building with all two bedrooms located at 31-33 Boston St. for $910,000. Handled by Richard Cawley & Jason Braun of UMF, the brick veneer residences were built in 1968 and situated on a 1.15 acre site with off street parking and onsite coin-op laundry facilities. Improvements completed during current ownership include roof, siding, windows, monitored fire-alarm system and recent hookups to town sewer. The property was sold by Roger and Suzanne Martin to Greenwich Bay Homes LLC with financing provided by Santander Bank. The cap-rate at the time of sale was 9.19% with the property having a gross annual income of $147,060.