Updated Dec 4, 2024
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
About this deal
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:
- Property Type: Multifamily
- Transaction Amount: $1,075,000
- Address: 148 Summer Street
- Market: Somerville, MA
- Buyer's Rep: Toshivv Kumar - Stuart St James
- Seller's Rep: Ron Stiriti - Coldwell Banker
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.
On the Map
$1,075,000
$459/SF
MultiFamily
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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
14.76%
Cash-on-Cash
-4.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93