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Jennifer Schneider Of Century 21 Represents Buyer In $1.9M Multifamily Sale In Somerville

Property Image
SOLD
$1,900,000

Massachusetts

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MultiFamily3,057 SF
Sold 07/12/2024
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Property Image
SOLD

Jennifer Schneider Of Century 21 Represents Buyer In $1.9M Multifamily Sale In Somerville

11 Simpson Avenue

See Similar Deals
MultiFamily3,057 SF
Sold 07/12/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$621
Total Square Footage:3,057 SF
Transaction Type:Sale

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:

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

Jennifer Schneider
3 deals$4.2M volume
BROKER

Scarlett Tamburro
Advisors Living
4 deals$6.7M volume(617) 855-8314
BROKER

Details

SOLD
IMAGE: Jennifer Schneider & Scarlett Tamburro DATE: 07/12/2024 ADDRESS: 11 Simpson Avenue MARKET: Somerville, MA ASSET TYPE: Multifamily BUYER'S REP: Jennifer Schneider (@JennSchneiderHomes) - Century 21 (@Century21) SELLER'S REP: Scarlett Tamburro (@ScarlettSalesQueenBoston) - Advisors Living (@AdvisorsLiving) SALE PRICE: $1,900,000 UNITS: 2 ~ PPU: $950,000 SF: 3,057 ~ PPSF: $622 NOTE: A Philadelphia style 2-family home in Somerville's Davis Square sold for $1,900,000, featuring 9 beds, 3 baths, and updated interiors. Located near the Red Line and bike path, it includes a garage, decks, and ample parking, making it a prime investment opportunity.

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

$101,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,750.31
Cash-on-Cash Return-1.27%
Monthly Debt Service$9,006.97
Annual Debt Service$108,083.63