Apex Realty Group, LLC Sells Two Multifamily Properties In Somerville, MA For $1.3M
12 Connecticut Avenue & 14 Connecticut Avenue
$1,300,000
$200/SF
Building Size
6,486 SF
Asset Type
MultiFamily
Closing
Aug 25, 2023
AI
Two multifamily properties located at 12 Connecticut Avenue and 14 Connecticut Avenue in Somerville, MA, have been sold for a total of $1,300,000. The combined properties offer 3,243 square feet of space at a price per square foot of $401. The transaction was facilitated by John Jay Raso of Apex Realty Group, LLC.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,300,000
- Address: 12 Connecticut Avenue & 14 Connecticut Avenue, Somerville, MA
- Market: Somerville, MA
- Square Footage: 3,243
- Price per Square Foot: $401
- Broker: John Jay Raso - Apex Realty Group, LLC
John Jay Raso of Apex Realty Group, LLC played a key role as the broker in this transaction, overseeing the sale of the two multifamily properties in Somerville, MA. The deal was successfully closed at a price of $1,300,000, covering a total area of 3,243 square feet at a price per square foot of $401.
Players
Joliet 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
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93