Jennifer Schneider Of Century 21 Represents Buyer In $1.9M Multifamily Sale In Somerville
11 Simpson Avenue
$1,900,000
$621/SF
Building Size
3,057 SF
Asset Type
MultiFamily
Closing
Jul 12, 2024
AI
A Philadelphia style 2-family home at 11 Simpson Avenue in Somerville, MA, has been sold for $1,900,000. The property consists of 3,057 square feet, offering a price per unit of $950,000 and a price per square foot of $622. It features 9 beds and 3 baths, and has updated interiors. The location is convenient, being near the Red Line and bike path, and includes a garage, decks, and ample parking, representing a prime investment opportunity.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,900,000
- Address: 11 Simpson Avenue
- Market: Somerville, MA
- Units: 2
- Square Footage: 3,057
- Price per Unit: $950,000
- Price per Square Foot: $622
- Buyer's Representative: Jennifer Schneider - Century 21
- Seller's Representative: Scarlett Tamburro - Advisors Living
The transaction involved Jennifer Schneider, representing the buyer, and Scarlett Tamburro, representing the seller. Both are affiliated with their respective agencies, Century 21 and Advisors Living.
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
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93