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102 Belmont St, Somerville,...

Updated Dec 19, 2023

Reilly And Foley Team Of RE/MAX Destiny Sell Multifamily Property In Somerville, MA For $1.25M
SOLDMultiFamily

Reilly And Foley Team Of RE/MAX Destiny Sell Multifamily Property In Somerville, MA For $1.25M

102 Belmont St, Somerville, Massachusetts, USA

$1,251,000

$346/SF

Building Size

3,606 SF

Asset Type

MultiFamily

Closing

Jul 1, 2021

About this deal

AI

A multifamily property located at 102 Belmont St in Somerville, MA was recently sold for $1,251,000. The property spans a total area of 3,606 square feet, resulting in a price per square foot of $347. The sale took place on 07/02/2021, and the transaction was facilitated by the Reilly and Foley Team from RE/MAX Destiny, representing the seller, and the 4 Buyers RE Team from 4 Buyers Real Estate LLC, representing the buyer.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,251,000
  • Property Address: 102 Belmont St, Somerville, MA
  • Market: Somerville, MA
  • Seller's Representative: Reilly and Foley Team - RE/MAX Destiny
  • Buyer's Representative: 4 Buyers RE Team - 4 Buyers Real Estate LLC

Florence Foley & Patti Reilly of the Reilly and Foley Team, based at RE/MAX Destiny, actively represented the seller during the transaction. On the other side, the buyer was represented by the 4 Buyers RE Team from 4 Buyers Real Estate LLC. The sale of this multifamily property demonstrates the successful collaboration between these real estate professionals in securing a deal within the Somerville, MA market.

Players

Florence Foley

Broker

$1.3M

vol

1 deal

Broker

Somerville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $346 per square foot on a published $1.3M for 3,606 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

12.68%

Cash-on-Cash

-3.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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