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1 Walker Street, Somerville...

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

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

1 Walker Street, Somerville, Massachusetts 02144, United States

$1,600,000

$527/SF

Building Size

3,035 SF

Asset Type

MultiFamily

Closing

Mar 31, 2022

AI

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 Bremis

Steve Bremis Realty Group

Broker

$11.4M

vol

8 deals

Broker

Somerville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

9.91%

Cash-on-Cash

-2.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93