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16 Electric Avenue

Updated Dec 4, 2024

Dreamhouse Team & Romeo Zeqo Close $1.56M Multifamily Sale In Somerville
SOLDMultiFamily

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

Romeo Zeqo

Best Boston Realty

Broker

$3.1M

vol

2 deals

Broker

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

10.17%

Cash-on-Cash

-2.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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