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17 Otis Street

Keller Williams Realty Acquires Somerville Multifamily Asset For $2.15M
SOLDMultiFamily

Keller Williams Realty Acquires Somerville Multifamily Asset For $2.15M

17 Otis Street

$2,150,000

$565/SF

Building Size

3,800 SF

Asset Type

MultiFamily

Closing

Oct 16, 2023

AI

In Somerville, Massachusetts, a multifamily asset at 17 Otis Street was sold for $2.15 million. The property spans 3,800 square feet and has a price per square foot of $566.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,150,000
  • Address: 17 Otis Street, Somerville, MA
  • Market: Somerville, MA

Patricia Baker from Keller Williams Realty - Chestnut Hill represented the buyer in the deal, while Vito Neshev acted as the seller's representative.

Players

Vito Neshev

Broker

$3.5M

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

7.38%

Cash-on-Cash

-2.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93