facebook
Traded Co logo
Submit
Daily limit: 0/10

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

Property Image
SOLD
$1,640,000

Massachusetts

See Similar Deals
MultiFamily9,786 SF
Sold 05/07/2024
the dealplayerscompscontact
Property Image
SOLD

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

13 Clyde Street

See Similar Deals
MultiFamily9,786 SF
Sold 05/07/2024
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$167
Total Square Footage:9,786 SF
Transaction Type:Sale

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
14 deals$34.8M volume
BROKER

Details

SOLD
IMAGE: David Lilley DATE: 05/07/2024 ADDRESS: 13 Clyde Street MARKET: Somerville, MA ASSET TYPE: Multifamily BROKER: David Lilley - Re/Max Destiny (@DestinyAgents) SALE PRICE: $1,640,000 UNITS: 4 ~ PPU: $410,000 SF: 9,786 ~ PPSF: $168 NOTE: A fully permitted four-unit development project at 13 Clyde St, Somerville, MA, sold for $1,640,000, featuring nearly 10,000 sq ft of luxury living space designed by Peter Quinn Architects. Located near Davis Square and the Minuteman Bike Path, this project includes off-street parking and outdoor spaces, ideal for condo sales or rentals.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$87,466.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,826.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,774.44
Annual Debt Service$93,293.24