Updated Oct 28, 2024
MassHousing Provides $4.1M Loan For Multifamily Property At 31 Tufts Street In Somerville, MA
31 Tufts Street, Somerville, Massachusetts 02145, United States
$4,100,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 6, 2022
About this deal
AI
The property involved in this transaction is a multifamily asset located at 31 Tufts Street in Somerville, MA. The loan amount for this transaction was $4,100,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,100,000
- Lender: masshousing''>MassHousing - Chrystal Kornegay
- Landlord: E3 Development, LLC
Chrystal Kornegay, representing MassHousing, was the lender in this transaction. E3 Development, LLC acted as the landlord for the property.
The multifamily loan at 31 Tufts Street, Somerville, Massachusetts 02145, United States in Somerville, Massachusetts financed for $4.1M in 2022. 31 Tufts Street, Somerville, Massachusetts 02145, United States is classified as Multifamily on Traded. This page is the Somerville, Massachusetts file for the 31 Tufts Street, Somerville, Massachusetts 02145, United States multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Somerville sit in the Market section below. Filter that Somerville multifamily set by closing date to see what else financed near 31 Tufts Street, Somerville, Massachusetts 02145, United States around 2022. Published consideration for 31 Tufts Street, Somerville, Massachusetts 02145, United States is $4.1M, dated 2022. Cite this MassHousing Provides $4.1M Loan For Multifamily Property At 31 Tufts Street In Somerville, MA loan when underwriting similar multifamily product around Somerville, Massachusetts.
Players
Somerville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.87%
Cash-on-Cash
-1.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93