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
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