Updated Dec 4, 2024
Dreamhouse Team & Romeo Zeqo Close $1.56M Multifamily Sale In Somerville
16 Electric Avenue
$1,560,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 3, 2024
About this deal
AI
A multi-family home at 16 Electric Ave, Somerville, MA 02144, recently sold for $1,560,000, offering 6+ bedrooms and 2.5 bathrooms across 3,113 square feet of living space. Located in a prime area, steps away from Davis Square, Ball Square, Tufts University, and Red and Green Line T Stops, it presents a promising investment opportunity with its ample space, hardwood flooring, washer/dryer unit, back deck, and parking for 2 cars.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $1,560,000
- Address: 16 Electric Ave, Somerville, MA 02144
- Market: Somerville, MA
The buyer's representative for this transaction was Dreamhouse Team from United Real Estate, while the seller's representative was Romeo Zeqo from Best Boston Realty. Both parties played crucial roles in facilitating the deal for this multi-family property.
Players
Somerville MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.17%
Cash-on-Cash
-2.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93