Updated Dec 20, 2023
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
About this deal
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.
On the Map
$1,050,000
$435/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
15.11%
Cash-on-Cash
-4.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93