United Multi Family brokered the sale of a 24-unit apartment building at 1 County St. and 1 Talbot St. for $1.525 million.
Handled by Richard Cawley & Jason Braun of UMF, the brick garden style residences were built in 1974 and consisted of 19 two-bedrooms and 5 one-bedrooms.
The property was sold by Talbot Realty LLC to Donna Louise Realty LLC with financing provided by Bank Newport. The CAP rate at the time of sale was 7.79% with the property having a gross annual income of $248,136.
Since its inception, United Multi Family has provided investors of multi-family housing with the tools they need to achieve the highest return on investment.
With direct experience in the acquisition, management, development and finance of multifamily properties, the UMF team is supported by the latest marketing technology, market research, and comprehensive training.