Updated Dec 19, 2023
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
Somerville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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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