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
44
Avg $/SF
$358
Avg/$/Unit
$352,430
Volume
$3,088,970,532
Info as of November 25, 2024
Multifamily 25+ Units
Italics Denotes Partial Sale
| City | Property Name | Address | Units | SF | $/SF | $/Unit | Sale Price | Close Date | Buyer | Seller |
|---|---|---|---|---|---|---|---|---|---|---|
| Newton | Modera Newton | 2 Los Angeles St | 205 | 194,191 | 587.05089319278 | 556097.56097561 | 114,000,000 | 11/08/24 | Mill Creek Residential | Criterion Development |
| Hanover | Webster Woods | 295 Webster St | 76 | 100,646 | 257.83438984162 | 341447.36842105 | 25,950,000 | 11/07/24 | COPA Real Estate Investments | Jones Street |
| Weymouth | Tammy Brook | 155 King Ave | 90 | 86,396 | 275.47571646836 | 264444.44444444 | 23,800,000 | 11/06/24 | Preservation Equity Fund Advisors, LLC | Beacon Communities |
| Saugus | The Residences at Stevens Pond | 1 Founders Way | 326 | 390,486 | 398.86193102954 | 477760.73619632 | 155,750,000 | 10/30/24 | Waterton | JRK |
| Everett | The Batch Yard | 25 Charlton St | 328 | 279,203 | 505.36706267483 | 430182.92682927 | 141,100,000 | 10/28/24 | LCOR | Post Road Residential |
| Lawrence | Washington Mill 240 | 240-270 Canal St | 435 | 335,954 | 362.4008048721 | 279885.05747126 | 121,750,000 | 10/17/24 | Osso Capital LLC | Berkeley Investments |
| Boston | One Greenway | 99 Kneeland St | 217 | 181,442 | 680.24326230972 | 568777.41013825 | 123,424,698 | 10/10/24 | AIR Communities | PGIM |
| Haverhill | The Ellis Factory | 24 Essex St | 59 | 59,530 | 230.13606584915 | 232203.38983051 | 13,700,000 | 10/08/24 | SMC Management Corporation | Chinburg Properties |
| Shrewsbury | Bell Shrewsbury | 35 Harrington Ave | 250 | 276,621 | 347.04523517737 | 384000 | 96,000,000 | 10/03/24 | Bell Partners, Inc. | BlueRock |
| Boston | One Greenway | 99 Kneeland St | 217 | 181,442 | 680.24326230972 | 568777.41013825 | 123,424,698 | 09/30/24 | AIR Communities | PGIM |
| Boston | Velo Forest Hills | 3686 Washington St | 250 | 235,000 | 436.17021276596 | 410000 | 102,500,000 | 09/25/24 | Nuveen | Criterion Development |
| Billerica | The Villas at Old Concord | 4 Riverhurst Rd | 324 | 440,376 | 260.00508656239 | 353395.0617284 | 114,500,000 | 09/24/24 | TruAmerica Multifamily | The Hanover Company |
| Boston | Fenway Portfolio | Westland Ave & Park Dr | 222 | 159,184 | 639.98266157403 | 458896.3963964 | 101,875,000 | 09/20/24 | Forest Properties | Joy Realty Associates |
| Waltham | The Point at Waltham | 341 2nd Ave | 191 | 238,065 | 382.24854556529 | 476439.79057592 | 91,000,000 | 09/17/24 | Pantzer Properties | Alliance Residential |
| Somerset | Shawomet Gardens | 102 Shawomet Ave | 240 | 249,273 | 142.8153069125 | 148333.33333333 | 35,600,000 | 09/13/24 | SMG | Eastern Property Group |
| Waltham | ReNew Waltham | 20 Middlesex Cir | 696 | 656,847 | 336.4558260904 | 317528.73563218 | 221,000,000 | 09/12/24 | FPA Multifamily | Harbor Group International |
| Wayland | Oxbow Wayland | 490 Boston Post Rd | 218 | 253,578 | 389.22934954925 | 452752.29357798 | 98,700,000 | 08/23/24 | BlackRock | Wood Partners |
| Lynn | 175 Ocean St | 175 Ocean St | 46 | 34,251 | 364.95284809203 | 271739.13043478 | 12,500,000 | 07/31/24 | Brickpoint Properties, Inc. | Bayview Realty Corp |
| Worcester | 556 Mill St | 556 Mill St | 54 | 42,123 | 240.96099518078 | 187962.96296296 | 10,150,000 | 07/31/24 | Arrowpoint Properties | Chase Family Trust |
| Newton | Curtis Arms Apartments | 128 North St | 44 | 43,092 | 353.89399424487 | 346590.90909091 | 15,250,000 | 07/24/24 | Rincon Companies | Casella Family LP |
| Boston | LUKA on the Commons | 45 Stuart St | 398 | 384,000 | 552.08333333333 | 532663.31658291 | 212,000,000 | 07/17/24 | Carmel Partners | AvalonBay |
| Boston | Boston East | 126 Border St | 200 | 216,000 | 394.67592592593 | 426250 | 85,250,000 | 07/10/24 | Goldman Sachs Asset Management | American Realty Advisors |
| Melrose | 119 W Wyoming Ave | 119 W Wyoming Ave | 36 | 30,448 | 342.71544929059 | 289861.11111111 | 10,435,000 | 06/07/24 | Symes Associates | CMS Partners |
| Malden | Malden Square Apartments | 480 Main St | 195 | 214,337 | 373.01072609955 | 410000 | 79950000 | 05/09/24 | Nuveen | DSF Group |
| Weymouth | The Helix | 655 Washington St | 160 | 160,000 | 391.53125 | 391531.25 | 62,645,000 | 04/30/24 | EQR | Trinity Green |
| Westford | Abbot Mill | 1 Pleasant St | 233 | 248,330 | 188.03608102122 | 200407.72532189 | 46,695,000 | 04/16/24 | Aker Companies | Yule Development |
| Methuen | Loop83 | 83 Pleasant Valley St | 156 | 184,307 | 315.23490697586 | 372435.8974359 | 58,100,000 | 03/27/24 | Pantzer Properties | Criterion Development |
| Quincy | Hillside Residences | 23-31 Bridge St | 60 | 64,239 | 298.03857469761 | 319095 | 19,145,700 | 03/21/24 | James Cohen | Geoffrey Arend |
| Somerville | The Princeton | 333 Broadway | 50 | 46,270 | 237.73503349903 | 220000 | 11,000,000 | 03/20/24 | Viceroy Capital | A&P Realty Trust |
| Chelsea | 31-47 Louis St | 31-47 Louis St | 27 | 24,290 | 345.82132564841 | 311111.11111111 | 8,400,000 | 03/18/24 | Coolidge Landing | Gerald Snerison |
| Methuen | Union & Grove Apartments | 70 Union St | 36 | 26,235 | 314.46540880503 | 229166.66666667 | 8,250,000 | 03/01/24 | Irshad Sideeka | Arrowpoint Properties |
| Boston | The Sudbury | 100 Sudbury St | 368 | 359904 | #VALUE! | #VALUE! | 43,000,000 | 02/29/24 | Carmel Partners | HYM |
| Lawrence | 13-33 Jordan St | 13-33 Jordan St | 27 | 37,142 | 102.31005330892 | 140740.74074074 | 3,800,000 | 02/29/24 | Arrowpoint Properties | Z4 Properties |
| Marlborough | The Point at Green District | 1000 Green District Blvd | 235 | 263,979 | 361.77120149709 | 406382.9787234 | 95,500,000 | 02/23/24 | Pantzer Properties | Post Road Residential |
| Framingham | Rose Garden Apartments | 258-262 Union Ave | 72 | 70,551 | 234 | 229,167 | 16,500,000 | 01/30/24 | Rockridge Real Estate | VTT Property Management |
| Boston | One India Apartments | 1 India St | 94 | 99,400 | 624 | 659,574 | 62,000,000 | 01/19/24 | NTT Urban Development | EQR |
| Boston | Flats on D | 407-415 D St | 197 | 196,110 | 518 | 515,228 | 101,500,000 | 01/05/24 | Eaton Vance | Clarion Partners |
| Brookline | Pelham Hall | 1284 Beacon St | 148 | 134,756 | 519 | 472,973 | 70,000,000 | 12/28/23 | Aker Companies | Atalaya Capital Management |
| Hudson | Highlands at Hudson | 307 Central St | 158 | 220,595 | 179 | 250,000 | 39,500,000 | 12/27/23 | TruAmerica Multifamily, Inc. | Jefferson Apartment Group |
| Fitchburg | Forest Ridge | 6 Mary Anna Dr | 90 | 91,764 | 134.03949261148 | 136666.66666667 | 12,300,000 | 12/26/23 | Shorelight Real Estate | Taymil Partners |
| Norwood | One Upland | 8 Upland Woods Cir | 262 | 252,000 | 453.57142857143 | 436259.54198473 | 114,300,000 | 12/18/23 | UDR, Inc. | Cottonwood Residential |
| Kingston | The Point at Kingston | 1 Kingston Collection Way | 282 | 292,353 | 364.2856409888 | 377659.57446809 | 106,500,000 | 12/15/23 | Pantzer Properties | Crow Holdings |
| Marlborough | Talia Apartments | 155 Ames St | 225 | 355,415 | 208.27887399238 | 329001.93777778 | 74,025,436 | 12/07/23 | The DSF Group | Fairfield Residential |
| Framingham | Parkside Apartments | 301 Grant St | 30 | 19,280 | 321.57676348548 | 206666.66666667 | 6,200,000 | 12/01/23 | Michel Ermani | VTT Management |
Disclaimer
This document has been prepared by Boston Multifamily for advertising and general information only. Boston Multifamily makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Boston Multifamily excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Boston Multifamily.
Boston Multifamily Provides Professional Multi-Family Apartment Marketing and Brokering Services
We specialize in representing buyers and sellers of multi-family and mixed-use properties and buildable land throughout the Metro Boston area, providing effective strategies to maximize asset values for both private capital and institutional investors.
Boston Multifamily
Boston Multifamily is the premier platform for a wide range of resources, tools, and advisory services for multifamily and mixed-use apartment building investors, and developers of land, in the Greater Boston area of Massachusetts.