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Beacon Group Acquires Somerville Multifamily For $1.6M With Buyer's Rep Coldwell Banker Realty

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SOLD
$1,600,000

Massachusetts

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MultiFamily3,035 SF
Sold 04/01/2022
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Property Image
SOLD

Beacon Group Acquires Somerville Multifamily For $1.6M With Buyer's Rep Coldwell Banker Realty

1 Walker Street, Somerville, Massachusetts 02144, United States

See Similar Deals
MultiFamily3,035 SF
Sold 04/01/2022
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$527
Total Square Footage:3,035 SF
Transaction Type:Sale

The multifamily property located at 1 Walker St in Somerville, MA has been sold for a price of $1,600,000. The transaction took place on 04/01/2022. The property consists of 2 units, with a price per unit of $800,000. The total square footage of the property is 3,035, resulting in a price per square foot of $527.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,600,000
  • Address: 1 Walker St, Somerville, MA
  • Market: Somerville, MA
  • Buyer's Representative: Beacon Group - Coldwell Banker Realty - Newton
  • Seller's Representative: The Steve Bremis Team - Steve Bremis Realty Group

Steve Bremis represented the seller, while the buyer was represented by the Beacon Group from Coldwell Banker Realty in Newton. The sale of this multifamily property demonstrates the ongoing activity in the real estate market in Somerville, MA.

Players

Stephen (Steve) Bremis
8 deals$11.4M volume
BROKER

Details

SOLD
IMAGE: Steve Bremis DATE: 04/01/2022 ADDRESS: 1 Walker St MARKET: Somerville, MA ASSET TYPE: Multifamily BUYER'S REP: Beacon Group (@LookForTheBeacon) - Coldwell Banker Realty - Newton (@Cb_Newton_Real_Estate) SELLER'S REP: The Steve Bremis Team - Steve Bremis Realty Group (@BremisCollection) SALE PRICE: $1,600,000 UNITS: 2 ~ PPU: $800,000 SF: 3,035 ~ PPSF: $527

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$85,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,684.48
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,584.82
Annual Debt Service$91,017.80