Cawley and Braun of United Multi Family complete $1.251 million sale

February 09, 2011 - Front Section

227-231 Charles Street - Cambridge, MA

Richard Cawley, United Multi Family

Jason Braun, United Multi Family

United Multi Family brokered the sale of a 6-unit apartment building at 227-231 Charles St., for $1.251 million ($208,500 per unit). The deal as handled by Richard Cawley and Jason Braun of the New England office of United Multi Family. The wood frame with vinyl siding residences were built in 1920 and sold by Antonio and Maria Correira to Mount Vernon Co. Inc. with financing provided by First Republic Bank. The CAP rate at the time of sale was 6.08% with the property having a gross annual income of $111,624.
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