Although the seller in this case, Joshua Hornik, paid $528,000 for it back in 2007, or $604,000 in today's dollars.
Since the building is a three family structure allowing for 12 unrelated housemates chances are pretty good it will simply remain a very profitable rental.
This is Cherewatti's second purchase in four months using the cloaking LLC, Rocky Hill Road Partners.
Echo Village Apartments, his most controversial purchase because he immediately evicted all the low income Section 8 tenants, was a much steeper investment at $3 million. At purchase the property was valued at $2.1 million.
Interestingly, the town assessor now values Echo Village Apartments at only $1.795 million -- well below what Cherewatti paid.
Which probably has affordable housing activists salivating for the Fall Town Meeting to take it by eminent domain.