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1023-1025 Broadway

Multifamily Property In Somerville, MA Sells For $2.25M With Flow Realty, Inc's Alex Genovese
SOLDMultiFamily

Multifamily Property In Somerville, MA Sells For $2.25M With Flow Realty, Inc's Alex Genovese

1023-1025 Broadway

$2,250,000

$637/SF

Building Size

3,527 SF

Asset Type

MultiFamily

Closing

Oct 27, 2023

AI

A multifamily property located at 1023-1025 Broadway in Somerville, MA, has recently been sold for a price of $2,250,000. This transaction was facilitated by broker Alex Genovese ofFlow Realty, Inc. The property has a total square footage of 3,527, resulting in a price per square foot (PPSF) of $638.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,250,000
  • Address: 1023-1025 Broadway, Somerville, MA
  • Market: Somerville, MA
  • Broker: Alex Genovese - Flow Realty, Inc
  • Square Footage: 3,527
  • Price per Square Foot (PPSF): $638

This successful transaction highlights the role of Alex Genovese, representing Flow Realty, Inc, in the sale of the multifamily property. With their expertise, they were able to facilitate the deal, resulting in a mutually beneficial outcome for the buyer and seller.

Players

Alex Genovese

Flow Realty

Broker

$2.3M

vol

1 deal

Broker

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

7.05%

Cash-on-Cash

-2.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93