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Rise Realty Acquires Multifamily Property In Somerville, MA For $1.6M

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SOLD
$1,553,000

Massachusetts

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MultiFamily4,547 SF
Sold 09/06/2023
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Property Image
SOLD

Rise Realty Acquires Multifamily Property In Somerville, MA For $1.6M

142 Powder House Boulevard

See Similar Deals
MultiFamily4,547 SF
Sold 09/06/2023
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$341
Total Square Footage:4,547 SF
Transaction Type:Sale

The multifamily property located at 142 Powder House Boulevard in Somerville, MA has been sold for a total price of $1,553,000. The property consists of 3 units, with each unit having an average price of $517,667. The total square footage of the property is 4,547, resulting in a price per square foot of $342.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,553,000
  • Units: 3
  • Price per Unit: $517,667
  • Square Footage: 4,547
  • Price per Square Foot: $342
  • Address: 142 Powder House Boulevard, Somerville, MA

Sarah Doucette and Celina Doucette, representing Rise Realty, acted as the buyer's representatives in this transaction. On the other hand, Jay Tedeman, from Coldwell Banker, served as the seller's representative. The involvement of these individuals and companies played a crucial role in facilitating the sale of the multifamily property.

Players

Celina Doucette
3 deals$4.9M volume
BROKER

Sarah Doucette
Rise Realty (Boston)
1 deal$1.6M volume(917) 924-0262
BROKER

John (Jay) Tedeman
Coldwell Banker
1 deal$1.6M volume(617) 835-0698
BROKER

Details

SOLD
IMAGE: Sarah Doucette, Celina Doucette & Jay Tedeman DATE: 09/06/2023 ADDRESS: 142 Powder House Boulevard MARKET: Somerville, MA ASSET TYPE: Multifamily BUYER'S REP: Sarah Doucette (@RisewithSarah) & Celina Doucette (@RisewithCelina) - Rise Realty SELLER'S REP: Jay Tedeman - Coldwell Banker (@CBRealtyNE) SALE PRICE: $1,553,000 UNITS: 3 ~ PPU: $517,667 SF: 4,547 ~ PPSF: $342

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$82,826.66

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,517.49
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,362.01
Annual Debt Service$88,344.15