Brian DApice Facilitates $11.25M Sale Of 50-Unit Multifamily In Somerville
SOLD
$11,250,000
Maryland
See Similar DealsMultiFamily27,483 SF
Sold 03/19/2024
SOLD
Brian DApice Facilitates $11.25M Sale Of 50-Unit Multifamily In Somerville
4-8 Langmaid Avenue
See Similar DealsMultiFamily27,483 SF
Sold 03/19/2024
Summary
MARYLAND
Asset Type:MultiFamily
Price Per Square Foot:$409
Total Square Footage:27,483 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$600,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,968.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$53,330.74
Annual Debt Service$639,968.87
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