South Boston, MA | 5 Units
$3,200,000
241-243 E St
Sold
Rich Cawley
P: 617-529-1141
F: 617-668-1126
E: rcawley@umf.com
Investment Overview

SOLD 11/29/22.Meticulously renovated 5 unit brick building in South Boston, comprised of four 2-bed 1-bath units, and one 4-bed 2-bath, totaling 4,706 livable square feet, offering investors a turn key asset in one of Boston's best neighborhoods. There is a driveway for off-street parking behind the building. Just blocks away from West Broadway in South Boston, this location offers access to restaurants and shops. Separate heat/hot water and electric is paid for by tenants. The financials are Pro Forma given that building is newly renovated. Square Footage based on area calculator. $3100 2BR rents leased to BlueGround Furnished rentals.

Investment Highlights
Price $3,200,000.00
Price / Unit $640,000.00
Gross Rent Multiplier 13.89
Initial Investment $3,200,000.00

Property Summary
Number of Units 5
Year Constructed 1930
Type of Buildings 1 three-story brick
Parking Off-Street
Roofs Flat - Rubber
Exterior Brick
Site Size 2867 Sq. Ft.
Total Rentable Sq. Ft. 4,706±
Income & Expenses
Income Potential Current
Gross Scheduled Rent $241,200.00 $230,400.00
Less: Vacancy ($7,236.00) ($6,912.00)
Based On 3.00% est. 3.00% est.
Net Rent Income $233,964.00 $223,488.00
Parking $3,600.00 $3,600.00
Total Operating Income $237,564.00 $227,088.00

Expense Potential Current
Real Estate Taxes $15,100.92 $15,100.92
Insurance $3,000.00 $3,000.00
Utilities $2,500.00 $2,500.00
Water & Sewer $3,000.00 $3,000.00
Snow Removal / Landscape $1,500.00 $1,500.00
Maintenance & Repairs $3,250.00 $3,250.00
Total Expenses $28,350.92 $28,350.92

Net Operating Income $209,213.08 $198,737.08
Potential Net Cash Flow $209,213.08 $198,737.08
Cash-on Cash Return 6.54% 6.21%
Capitalization Rate 6.54% 6.21%
All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted to errors, omissions, change of price,rental or other conditions, prior to sale or lease, or withdrawal without notice. United Multi Family makes no warranty or representation about the content of this brochure. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property.