Riverfront Realtors Acquires Multifamily Property In Somerville, MA For $1.085M
105 Beacon Street, Somerville, Massachusetts, USA
$1,085,000
$630/SF
Building Size
1,720 SF
Asset Type
MultiFamily
Closing
Nov 12, 2021
AI
The multifamily property located at 105 Beacon Street in Somerville, MA has recently been sold in a closed transaction. The sale was facilitated by Ron Carpenito from Prime Property Team, who represented the seller, and Greg McCarthy from Riverfront Realtors, who represented the buyer. The property consists of 2 units with a total square footage of 1,720. The asking price for this property was $1,100,000, and it was sold for $1,085,000, resulting in a price per unit of $542,500. The price per square foot was $631.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,085,000
- Address: 105 Beacon Street, Somerville, MA
- Market: Somerville, MA
- Buyer's Representative: Greg McCarthy - Riverfront Realtors
- Seller's Representative: Ron Carpenito - Prime Property Team
This transaction showcases the expertise of Greg McCarthy and Ron Carpenito in representing their respective clients in the sale. Both parties were able to negotiate a successful deal, resulting in the sale of this multifamily property.
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
14.62%
Cash-on-Cash
-4.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93