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4-8 Langmaid Avenue

Brian DApice Facilitates $11.25M Sale Of 50-Unit Multifamily In Somerville
SOLDMultiFamily

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

Brian DApice

The Mega Group

Broker

$50.3M

vol

16 deals

Broker

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