Gregory McCarthy Acquires Multifamily Property In Somerville, MA For $1.05M
16 Boston Ave, Somerville, MA 02144
$1,050,000
$435/SF
Building Size
2,412 SF
Asset Type
MultiFamily
Closing
May 5, 2022
AI
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
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
15.11%
Cash-on-Cash
-4.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93