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148 Summer Street

Toshivv Kumar & Ron Stiriti Facilitate $1.075M Sale Of Somerville Multifamily Property
SOLDMultiFamily

Toshivv Kumar & Ron Stiriti Facilitate $1.075M Sale Of Somerville Multifamily Property

148 Summer Street

$1,075,000

$459/SF

Building Size

2,341 SF

Asset Type

MultiFamily

Closing

Apr 11, 2024

AI

A two-family corner property at 148 Summer St in Somerville, MA, sold for $1,075,000. The property consists of 2 units with a total square footage of 2,341, resulting in a price per unit of $537,500 and a price per square foot of $459. Its location offers convenience, being just minutes away from Union, Davis, Porter, and Harvard squares, as well as close proximity to the New Greenline.

Summary of transaction details:

The buyer, represented by Toshivv Kumar from Stuart St James, successfully acquired the property at 148 Summer St in Somerville. On the other side, Ron Stiriti from Coldwell Banker acted as the seller's representative in this transaction.

Players

Toshivv Kumar

Stuart St James

Broker

$2.2M

vol

2 deals

Broker

Somerville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

14.76%

Cash-on-Cash

-4.22%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93