Cawley and Braun of United Multi Family brokers $975,000 sale of an 8-unit building

January 30, 2014 - Front Section

20 Copeland Street - Mansfield, MA

Richard Cawley, United Multi Family

Jason Braun, United Multi Family

United Multi Family brokered the sale of a 8-unit apartment building at 20 Copeland St. for $975,000 ($121,875 per unit). Richard Cawley and Jason Braun of the New England office of UMF handled the sale. The wood frame with vinyl siding residences were built in 1970 and sold by Brunelli Residential LLC to Bayridge Realty, LLC. Financing was provided by Bristol County Savings Bank. The property is comprised of 8 two-bedroom units built in 1970 each having their own garage parking space below. Situated on a 117,612 s/f site there is off street parking and two coin-op laundry rooms bringing in additional income. The CAP rate at the time of sale was 7.02% with the property having a gross annual income of $94,620.
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