Cawley and Braun of United Multi Family broker $1.475 million sale

December 16, 2010 - Front Section
United Multi Family brokered the sale of a 25 unit apartment building at 169-171 Mill St. for $1.475 million ($59,000 per unit). The transaction was handled by Richard Cawley and Jason Braun of the New England office. The wood frame-vinyl sided residences were built in 1987 and consisted of 13-two bedroom and 12-one bedroom apartments. Sold by Mill Street Realty Trust to Mill Street Apartments LLC with financing provided by Country Bank the CAP rate at the time of sale was 11.03% with the property having a gross annual income of $239,328.

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