Gregory McCarthy Acquires Multifamily Property In Somerville, MA For $1.05M
SOLD
$1,050,000
Massachusetts
See Similar DealsMultiFamily2,412 SF
Sold 05/06/2022
SOLD
Gregory McCarthy Acquires Multifamily Property In Somerville, MA For $1.05M
16 Boston Ave, Somerville, MA 02144
See Similar DealsMultiFamily2,412 SF
Sold 05/06/2022
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$435
Total Square Footage:2,412 SF
Transaction Type:Sale
A multifamily property located at 16 Boston Ave in Somerville, MA has been sold for a total price of $1,050,000. The property spans across 2,412 square feet, resulting in a price per square foot of $435.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $1,050,000
- Address: 16 Boston Ave, Somerville, MA
- Market: Somerville, MA
- Buyer's Representative: Gregory McCarthy - Riverfront Realtors
- Seller's Representative: Nick Kondilis - Steve Bremis Realty Group
Gregory McCarthy, representing Riverfront Realtors, assisted the buyer in this transaction, while Nick Kondilis, from Steve Bremis Realty Group, represented the seller.
Players
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$55,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,730.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,977.54
Annual Debt Service$59,730.43
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