Multifamily Comps
Why are Comparable Properties Important in Multifamily Real Estate?
Comparable properties, also known as comps, are important in multifamily real estate because they provide a benchmark for evaluating the value of a particular property. By comparing a property to similar properties that have recently sold in the same area, investors and appraisers can get a better understanding of the property’s value and potential for generating income.
There are several factors that can influence the value of a multifamily property, including the location, size, age, condition, and amenities of the property. By comparing a property to similar properties that have recently sold, investors and appraisers can take these factors into account and make more informed decisions about the property’s value.
In addition to helping investors and appraisers determine the value of a property, comparable properties can also be useful for negotiating the price of a property or for setting rental rates. By understanding the prices and rental rates of similar properties in the area, investors and landlords can make more informed decisions about how much to charge for rent or how much to offer for a property.
Overall, comparable properties are an important tool for evaluating the value of multifamily real estate and making informed decisions about buying, selling, or renting properties.
Summary Stats
Transactions
63
Avg $/SF
$378
Avg/$/Unit
$342,249
Volume
$3,848,622,160
Info as of March 6, 2023
Multifamily 25+ Units
| City | Property Name | Property Address | Units | SF | $/SF | $/Unit | Sale Price | Close Date | Buyer |
|---|---|---|---|---|---|---|---|---|---|
| Acton | Coach Estates | 53-55 Brook St | 48 | 38,976 | 46 | 37,560 | 1,802,896 | 4/25/2022 | Robert Merowitz |
| Ayer | Zodiac Village Apartments | 75 Groton School Rd | 70 | 64,000 | 120 | 110,000 | 7,700,000 | 10/14/2022 | Raymond Safi |
| Boston | Eagle Rock Apartments & Townhomes at Brighton | 9 Bronsdon St | 103 | 113,294 | 535 | 588,401 | 60,605,261 | 11/16/2022 | Eagle Rock Properties |
| Boston | Fenway Diamond Apartments | 9 Miner St | 49 | 47,164 | 677 | 651,837 | 31,940,000 | 8/11/2022 | BlackStar Equity |
| Boston | 1550 on the Charles | 1550 Soldiers Field Rd | 211 | 223,000 | 650 | 687,204 | 145,000,000 | 7/29/2022 | EQT Exeter |
| Boston | The Graphic Lofts | 32-34 Cambridge St | 171 | 54,500 | 1,767 | 563,158 | 96,300,000 | 6/21/2022 | EverWest Real Estate Investors |
| Boston | Selkirk Place | 56-58 Selkirk Rd | 30 | 33,676 | 380.09 | 426,667 | $12,800,000 | 8/10/2022 | BlackStar Equity |
| Cambridge | Flats on First | 21 Charles St | 136 | 105,000 | 981 | 757,353 | 103,000,000 | 4/12/2022 | Barings Real Estate Advisers |
| Canton | Canton Estates Apartment Homes | 32 Neponset St | 64 | 55,000 | 266 | 228,207 | 14,605,259 | 2/28/2023 | Standard Communities |
| Canton | Millside at Heritage Creek | 104 Revere St | 60 | 64,560 | 412 | 443,750 | 26,625,000 | 2/6/2023 | Fidelity Investments |
| Canton | Woodfield Commons | 1 Arboretum Way | 156 | 202,983 | 246.33 | 320,513 | $50,000,000 | 8/12/2022 | Metropolitan Properties |
| Chelsea | Atlas Lofts | 88 Gerrish Ave | 53 | 57,143 | 262 | 282,038 | 14,948,000 | 11/9/2022 | Rhino Capital Advisors |
| Danvers | Bradlee Danvers Apartments | 50 Kirkbride Dr | 433 | 747,237 | 278 | 480,370 | 208,000,000 | 6/1/2022 | UDR |
| Dedham | The Avens at Dedham Station | 250 Station Cir | 285 | 531,107 | 268 | 499,123 | 142,250,000 | 9/20/2022 | Rockwood Capital |
| East Boston | The Eddy | 10 New St | 259 | 267,150 | 505 | 521,236 | 135,000,000 | 1/9/2023 | Tishman Speyer |
| Framingham | Arlington Commons | 77-79 Arlington St | 54 | 41,925 | 325 | 252,130 | 13,615,000 | 2/1/2023 | Arx Urban |
| Framingham | Eagle Rock Apartments at MetroWest | 50 Dinsmore Ave | 425 | 494,358 | 367 | 426,596 | 181,303,098 | 11/16/2022 | Eagle Rock Properties |
| Framingham | Eagle Rock Apartments at Framingham | 5 Georgetown Dr | 279 | 293,196 | 348 | 365,543 | 101,986,589 | 11/16/2022 | Eagle Rock Properties |
| Framingham | Kingsley Terrace | 1-4 Kingsley Ter | 48 | 31908 | 326 | 216,750 | 10,404,000 | 9/14/2022 | Hunter Real Estate Management |
| Framingham | The Green at 9 & 90 | 1610 Worcester Rd | 1,020 | 935,550 | 333 | 305,882 | 312,000,000 | 4/1/2022 | Taurus Investment Holdings |
| Haverhill | Hamel Mill Lofts | 40 Locke St | 305 | 279,110 | 276 | 252,459 | 77,000,000 | 8/2/2022 | The DSF Group |
| Hopkinton | Woodview at Legacy Farms | 5 Woodview Way | 240 | 306,464 | 269 | 343,750 | 82,500,000 | 2/14/2023 | The DSF Group |
| Hudson | Matrix Hudson | 1000 Matrix Way | 176 | 211,255 | 263 | 315,341 | 55,500,000 | 11/18/2022 | Claremont Companies |
| Lawrence | 82-86 S Broadway | 82-86 S Broadway | 36 | 24,502 | 86 | 58,333 | 2,100,000 | 12/30/2022 | La Belle Maison Llc |
| Lawrence | 398 Andover St | 398 Andover St | 26 | 17,973 | 215 | 148,654 | 3,865,000 | 12/9/2022 | The DLC Law Group |
| Lawrence | Bay State Building | 11 Lawrence St | 40 | 63,636 | 89.57 | 142,500 | $5,700,000 | 7/29/2022 | Alphabet Properties |
| Lowell | Kent Apartments | 1260 Westford St | 132 | 115,316 | 225 | 196,212 | 25,900,000 | 8/1/2022 | The DSF Group |
| Lunenburg | Arrive Lunenburg | 1-56 Carousel Ln | 238 | 316,512 | 240 | 319,328 | 76,000,000 | 4/29/2022 | FPA Multifamily |
| Lynn | Kingsley Terrace | 1-4 Kingsley Ter | 48 | 31,908 | 326 | 216,750 | 10,404,000 | 9/14/2022 | Hunter Real Estate Management |
| Lynn | 262-268 Ocean St | 262-268 Ocean St | 50 | 72,517 | 214 | 310,000 | 15,500,000 | 9/22/2022 | Brickpoint Properties |
| Lynn | The Beaconsfield Apartments | 12-16 Newhall St | 55 | 48,768 | 277 | 245,455 | 13,500,000 | 6/17/2022 | 16 Newhall Street Realty Trust |
| Lynn | 67 Tudor St | 67 Tudor St | 27 | 16,140 | 328 | 196,296 | 5,300,000 | 4/29/2022 | Red Tree Real Estate |
| Lynn | Mosaic | 75 Baldwin St | 146 | 130,000 | 517.31 | 460,616 | $67,250,000 | 9/1/2022 | Groma |
| Lynnfield | Michael's Landing | 2 Broadway | 68 | 68,000 | 529 | 529,412 | 36,000,000 | 4/1/2022 | Baopeng Bai |
| Marlborough | Marlboro Village | 181 Boston Post Rd E | 102 | 8,450 | 1,345 | 111,400 | 11,362,787 | 6/24/2022 | The Broadway Company |
| Marlborough | Orchards Apartments | 3 Farmhouse Ln | 156 | 179,227 | 330 | 379,487 | 59,200,000 | 5/20/2022 | Nuveen |
| Marlborough | The Retreat at Marlborough | 21 Austen Way | 205 | 277,985 | 363 | 492,683 | 101,000,000 | 4/12/2022 | Greystar Real Estate Partners |
| Medford | Celeste Apartments | 983 Fellsway Hwy | 60 | 54,912 | 348 | 318,333 | 19,100,000 | 4/26/2022 | Micozzi Management, Inc. |
| Melrose | Windsor Radio Factory | 99 Washington St | 141 | 127,173 | 564 | 508,511 | 71,700,000 | 9/28/2022 | GID |
| Middleboro | River Park Landings | 143 W Grove St | 121 | 154,362 | 31 | 39,669 | 4,800,000 | 2/23/2023 | Michael Edelman |
| Natick | Avenu at Natick | 3 Superior Dr | 164 | 269,426 | 321 | 527,134 | 86,450,000 | 8/1/2022 | Greystar Real Estate Partners |
| Newtonville | Albemarle Gardens | 129-151 North St | 113 | 70,840 | 386 | 242,213 | 27,370,082 | 11/22/2022 | Rhino Capital Advisors |
| Plainville | Willow Trace Apartments | 7 Taunton St | 88 | 114686 | 175 | 228,409 | 20,100,000 | 9/26/2022 | Peak Capital Partners |
| Quincy | 49 Miller Stile Rd | 49 Miller Stile Rd | 29 | 9,478 | 285 | 93,103 | 2,700,000 | 6/3/2022 | Dan Botwinik |
| Quincy | Gamma North Quincy | 95 W Squantum St | 224 | 254,856 | 353 | 401,786 | 90,000,000 | 4/13/2022 | Akelius Real Estate Management |
| Revere | Point of Pines | 190 North Shore Rd | 72 | 95,160 | 285 | 377,083 | 27,150,000 | 9/13/2022 | Helge |
| Revere | BLVD at Revere Beach | 320 Revere Beach Blvd | 145 | 172,043 | 465 | 551,724 | 80,000,000 | 8/5/2022 | UBS Asset Management |
| Revere | Ryder | 21 Revere Beach Blvd | 200 | 106,900 | 979 | 523,250 | 104,650,000 | 6/2/2022 | Invesco Advisers |
| Revere | The Chase at Overlook Ridge | 11 Overlook Ridge Dr | 1,386 | 1,621,866 | 345 | 404,113 | 560,100,000 | 4/28/2022 | LivCor |
| Sharon | The Wren at Sharon | 2500 Avalon Dr | 156 | 174,964 | 372 | 416,667 | 65,000,000 | 9/29/2022 | Friedkin Property Group |
| Swampscott | Eagle Rock Apartments at Swampscott | 100 Vantage Ter | 96 | 150800 | 252 | 395,833 | 38,000,000 | 11/16/2022 | Eagle Rock Properties |
| Tewksbury | Residences at Tewksbury | 20 International Plz | 94 | 100,000 | 88 | 93,085 | 8,750,000 | 5/13/2022 | Diversified Funding |
| Tewksbury | Village Green | 1535 Main St | 56 | 71,320 | 262.90 | 334,821 | $18,750,000 | 8/4/2022 | Rhino Capital |
| Wakefield | Wakefield Vista Apartments | 105-109 Hopkins St | 114 | 131,064 | 267 | 307,018 | 35,000,000 | 12/9/2022 | Angelo Gordon & Co., L.P. |
| Worcester | Greenhill Park Apartments | 34-80 Goldthwaite Rd | 92 | 76,440 | 226 | 187,500 | 17,250,000 | 12/1/2022 | Arrowpoint Properties |
| Worcester | Greenwood Commons | 328 Greenwood St | 72 | 64,032 | 159 | 140,972 | 10,150,000 | 11/23/2022 | Paragon Properties |
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