Sammy Chen Of Denkar Realty Group Represents Buyer In Watertown Multifamily Sale For $1.22M
116-118 Summer Street
$1,220,000
$425/SF
Building Size
2,869 SF
Asset Type
MultiFamily
Closing
Aug 15, 2024
AI
A two-unit multifamily property located at 116-118 Summer Street in Watertown, MA, has been sold for $1,220,000. This asset encompasses a total square footage of 2,869, translating to a price per square foot of $425. The property includes 7 bedrooms and 3 bathrooms, along with updated amenities, ample outdoor space, and multiple off-street parking spots. Its proximity to Tufts University and the MBTA Green Line enhances its appeal in the market.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $1,220,000
- Units: 2
- Price Per Unit: $610,000
- Square Footage: 2,869
- Price Per Square Foot: $425
- Buyer's Representative: Sammy Chen - Denkar Realty Group
- Seller's Representative: Kevin Benzinger - Boston Realty Advisors
Sammy Chen from Denkar Realty Group represented the buyer in this transaction, while Kevin Benzinger from Boston Realty Advisors represented the seller. This closed transaction showcases the involvement of these real estate professionals in facilitating the sale of the multifamily property.
Players
Watertown 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
13.00%
Cash-on-Cash
-3.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93