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Yangyang Zhou & Shannon Forsythe Handle $1.71M Multifamily Sale In Somerville

Property Image
SOLD
$1,710,000
Shannon Forsythe
Yangyang Zhou

Massachusetts

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MultiFamily3,702 SF
Sold 04/10/2024
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Property Image
SOLD

Yangyang Zhou & Shannon Forsythe Handle $1.71M Multifamily Sale In Somerville

11 Hardan Road

See Similar Deals
MultiFamily3,702 SF
Sold 04/10/2024
Shannon Forsythe
Yangyang Zhou
the dealplayerscompscontact
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$461
Total Square Footage:3,702 SF
Transaction Type:Sale

A multifamily property located at 11 Hardan Road in Somerville, MA, was recently sold for $1,710,000. The property, a triple decker near Tufts University and Teele Square, offers potential for condo conversion or additional dwelling units. It features hardwood floors, updated boilers and water heaters, and ample off-street parking.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,710,000
  • Address: 11 Hardan Road
  • Market: Somerville, MA
  • Square Footage: 3,702
  • Price per Square Foot: $462

The buyer's representative for this transaction was Yangyang Zhou from Coldwell Banker, while the seller's representative was Shannon Forsythe from Century 21.

Players

Shannon Forsythe
Century 21
Shannon Forsythe
1 deal$1.7M volume(617) 943-2619
BROKER
Yangyang Zhou
Coldwell Banker
Yangyang Zhou
1 deal$1.7M volume(857) 265-0623
BROKER

Details

SOLD
IMAGE: Shannon Forsyth & Yangyang Zhou DATE: 04/10/2024 ADDRESS: 11 Hardan Road MARKET: Somerville, MA ASSET TYPE: Multifamily BUYER'S REP: Yangyang Zhou - Coldwell Banker (@ColdwellBanker) SELLER'S REP: Shannon Forsythe - Century 21 (@Century21) SALE PRICE: $1,710,000 SF: 3,702 ~ PPSF: $462 NOTE: A triple decker in Somerville, MA, located near Tufts University and Teele Square, sold for $1,710,000. This clean property on a large lot offers potential for condo conversion or additional dwelling units, boasting hardwood floors, updated boilers and water heaters, and ample off-street parking.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$91,200.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,075.27
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,106.27
Annual Debt Service$97,275.27