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116-118 Summer Street

Sammy Chen Of Denkar Realty Group Represents Buyer In Watertown Multifamily Sale For $1.22M
SOLDMultiFamily

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:

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

Kevin Benzinger

Boston Realty Advisors

Broker

$478.4M

vol

38 deals

Broker

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