Compass Sells Multifamily Property In Somerville, MA For $1.4M
SOLD
$1,400,000
Massachusetts
See Similar DealsMultiFamily2,014 SF
Sold 05/12/2022
SOLD
Compass Sells Multifamily Property In Somerville, MA For $1.4M
16 Wesley Park, Somerville, Massachusetts 02143, United States
See Similar DealsMultiFamily2,014 SF
Sold 05/12/2022
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$695
Total Square Footage:2,014 SF
Transaction Type:Sale
The multifamily property located at 16 Wesley Park in Somerville, MA has been sold for a total price of $1,400,000. The transaction took place on 05/12/2022. The property consists of 2 units, with an average price per unit of $700,000. The total square footage of the property is 2,014, resulting in a price per square foot of $695.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,400,000
- Units: 2
- Price per Unit: $700,000
- Square Footage: 2,014
- Price per Square Foot: $695
The buyer in this transaction was represented by Dara Singleton from Better Homes and Gardens Real Estate - The Shanahan Group. The seller was represented by Jonathan Mitchell from Compass.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$74,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,973.91
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,636.71
Annual Debt Service$79,640.57
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