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
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