United Multi Family (UMF) brokered the sale of a 12-unit apartment building at 13-19 Marney St. for $2.287 million ($190,583 per unit).
The sale was handled by Richard Cawley and Jason Braun of UMF. The vinyl siding residences were built in 1900 and sold by Dimas Botelho Revocable Trust to 13-19 Marney Street LLC. Financing was provided by First Republic Bank.
The building consisted of 8 three-bedroom, 3 two-bedroom and 1 one-bedroom apartments.
The CAP rate at the time of sale was 3.36% with the property having a gross annual income of $144,300.