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16 Wesley Park, Somerville,...

Compass Sells Multifamily Property In Somerville, MA For $1.4M
SOLDMultiFamily

Compass Sells Multifamily Property In Somerville, MA For $1.4M

16 Wesley Park, Somerville, Massachusetts 02143, United States

$1,400,000

$695/SF

Building Size

2,014 SF

Asset Type

MultiFamily

Closing

May 11, 2022

AI

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.

Players

Jonathan Mitchell

Compass

Broker

$8M

vol

3 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

11.33%

Cash-on-Cash

-3.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93