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13 Clyde Street

David Lilley Of Re/Max Destiny Brokers $1.64M Sale Of Somerville Multifamily Property
SOLDMultiFamily

David Lilley Of Re/Max Destiny Brokers $1.64M Sale Of Somerville Multifamily Property

13 Clyde Street

$1,640,000

$167/SF

Building Size

9,786 SF

Asset Type

MultiFamily

Closing

May 7, 2024

AI

A fully permitted four-unit development project at 13 Clyde St, Somerville, MA, sold for $1,640,000. The property features nearly 10,000 sq ft of luxury living space designed by Peter Quinn Architects. Situated near Davis Square and the Minuteman Bike Path, this project includes off-street parking and outdoor spaces, ideal for condo sales or rentals.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,640,000
  • Units: 4
  • Price Per Unit: $410,000
  • Square Footage: 9,786 sq ft
  • Price Per Sq Foot: $168
  • Address: 13 Clyde Street
  • Market: Somerville, MA

David Lilley from Re/Max Destiny acted as the broker for this transaction, representing the parties involved in the sale of the four-unit development project at 13 Clyde St. He facilitated the deal in the sought-after location of Somerville, MA, showcasing his expertise in the local real estate market.

Players

David Lilley

Re/Max

Broker

$34.8M

vol

14 deals

Broker

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

9.67%

Cash-on-Cash

-2.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93