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

41

Avg $/SF

$329

Avg/$/Unit

$332,979

Volume

$2,697,846,182

Info as of April 1, 2024
Multifamily 25+ Units 

Italics Denotes Partial Sale

 

CityProperty NameProperty AddressUnitsSF$/SF$/UnitSale PriceClose DateBuyerSeller
QuincyHillside Residences23-31 Bridge St 60 64,239 298 319,095 19,145,70003/21/24James CohenGeoffrey Arend
Chelsea31-47 Louis St31-47 Louis St 27 24,290 346 311,111 8,400,00003/18/24Coolidge LandingGerald Snerison
BostonThe Sudbury100 Sudbury St 368 359,904 119 116,848 43,000,000 02/29/24Carmel PartnersHYM
Lawrence13-33 Jordan St13-33 Jordan St 27 37,142 102 140,741 3,800,00002/29/24Arrowpoint PropertiesZ4 Properties
MarlboroughThe Point at Green District1000 Green District Blvd 235 263,979 362 406,383 95,500,00002/23/24Pantzer PropertiesPost Road Residential
FraminghamRose Garden Apartments258-262 Union Ave 72 70,551 234 229,167 16,500,00001/30/24Rockridge Real EstateVTT Property Management
BostonOne India Apartments1 India St 94 99,400 624 659,574 62,000,00001/19/24NTT Urban DevelopmentEQR
BostonFlats on D407-415 D St 197 196,110 518 515,228 101,500,00001/05/24Eaton VanceClarion Partners
BrooklinePelham Hall1284 Beacon St 148 134,756 519 472,973 70,000,00012/28/23Aker CompaniesAtalaya Capital Management
HudsonHighlands at Hudson307 Central St 158 220,595 179 250,000 39,500,00012/27/23TruAmerica Multifamily, Inc.Jefferson Apartment Group
FitchburgForest Ridge6 Mary Anna Dr 90 91,764 134 136,667 12,300,00012/26/23Shorelight Real EstateTaymil Partners
NorwoodOne Upland8 Upland Woods Cir 262 252,000 454 436,260 114,300,00012/18/23UDRCottonwood Residential
KingstonThe Point at Kingston1 Kingston Collection Way 282 292,353 364 377,660 106,500,00012/15/23Pantzer PropertiesCrow Holdings
MarlboroughTalia Apartments155 Ames St 225 355,415 208 329,002 74,025,43612/07/23The DSF GroupFairfield Residential
FraminghamParkside Apartments301 Grant St 30 19,280 322 206,667 6,200,00012/01/23Michel ErmaniVTT Management
CantonPrynne Hills9 Bay Dr 472 474,330 303 304,025 143,500,00011/13/23Friedkin Property GroupBlackstone
LynnIronwood Apartments215 Fairmount Ave 100 125,930 230 290,000 29,000,00011/13/23Forest PropertiesProcopio Companies
LawrenceAmerican Woolen Mills Townhouses1-14 Wood Way 42 26,000 212 130,952 5,500,00009/28/23Shorelight Real EstateStephen Wolfberg
CambridgeUrbane at Alewife50 Cambridgepark Dr 294 374,177 486 619,048 182,000,00009/27/23The Goldman Sachs Group, IncThe Hanover Company
FraminghamThe Grant Street Complex115-133 Grant St 26 28,320 226 246,154 6,400,00009/26/23Omer GranotVTT Management
Malden103 Clifton St103 Clifton St 33 10,375 275 86,364 2,850,00009/25/23United Properties, Inc.John Mancini
MaldenThe Fellsgate525 Highland Ave 31 31,680 220 225,000 6,975,00009/15/23Coolidge PropertiesBara Realty
BillericaThe Val164 Lexington Rd 211 249,200 371 438,626 92,550,00009/14/23Stars REIGID
Worcester31 Caroline St31 Caroline St 30 29,544 213 210,000 6,300,00009/13/23Maria LongCarol Foley
WorcesterParkview Apartments46-50 Barnes Ave 30 36,936 89 110,000 3,300,00008/23/23Adel MouawadBechara Fren
Boston80 Gardner St80 Gardner St 28 32,152 383 439,286 12,300,00008/15/23Alpha ManagementRhonda Stisi
Newton175 Adams St175 Adams St 31 33,000 341 362,903 11,250,00008/15/23Alpha ManagementRhonda Stisi
BillericaMiddlesex Crossing158 Concord Rd 252 225,792 303 271,210 68,345,00008/08/23Bridge Investment GroupHarbor Group
WeymouthThe Point at Weymouth39 Trotter Rd 237 322,174 294 399,156 94,600,00007/28/23Pantzer PropertiesMarcus Partners
MedfordArcadia at Rivers Edge100 Rivers Edge Dr 222 254,060 407 466,216 103,500,00007/07/23Pacific Urban InvestorsJohn Hancock
NewtonThe Aven at Newton Highlands99 Needham St 294 387,550 437 576,095 169,371,87806/30/23Abacus Capital GroupAvalonBay
TewksburyLodge at Ames Pond1 Ames Hill Dr 364 382,446 354 372,158 135,465,39606/29/23LaSalleMet Life
Boston16 Westland Ave16 Westland Ave 55 38,430 601 420,000 23,100,00006/28/23Premier Capital PartnersSerone
SomervilleRevolution at Assembly Row290 Revolution Dr 329 335,356 561 571,429 188,000,00006/02/23Mesirow FinancialWood Partners
Lowell134 Willard St134 Willard St 48 31,224 271 176,377 8,466,08805/30/23SMGPasciuto Properties
LawrenceLegacy Park Apartments112-114 Marston St 104 98,295 219 206,731 21,500,00005/22/23Gabriel DorfmanFederated Companies
LowellPrince Stevens Apartments144-148 Stevens St 35 30,160 184 158,620 5,551,68405/02/23SMGBarry Finegold
BostonChurch Park Apartments221 Massachusetts Ave 508 550,000 798 864,173 439,000,00004/28/23Brookfield PropertiesBoston Residential Group
ConcordThe Prescott at Concord1 Nathan Pratt Dr 350 392,562 397 445,714 156,000,00004/20/23BlackRockJohn Hancock
Lynn108 Franklin St108 Franklin St 30 15,000 423 211,667 6,350,00004/19/23Jane Torchiana SchafferJohnson Realty Management
Lowell190-202 Middlesex St190-202 Middlesex St 28 35,475 113 142,857 4,000,00004/12/23Alphabet PropertiesSky Realty
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