Brian DApice Facilitates $11.25M Sale Of 50-Unit Multifamily In Somerville
4-8 Langmaid Avenue
$11,250,000
$409/SF
Building Size
27,483 SF
Asset Type
MultiFamily
Closing
Mar 19, 2024
AI
The multifamily property located at 4-8 Langmaid Avenue in Somerville, MA, was recently sold for $11,250,000. The property comprises 50 units with a price per unit of $225,000. The total square footage of the property is 27,483, resulting in a price per square foot of $409.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $11,250,000
- Units: 50
- Price Per Unit: $225,000
- Square Footage: 27,483
- Price Per Square Foot: $409
- Address: 4-8 Langmaid Avenue
- Market: Somerville, MA
The sale of this multifamily property was facilitated by Brian DApice of The Mega Group, who represented the parties involved in the transaction.
Players
Avenue MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.41%
Cash-on-Cash
-0.40%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93