Updated Dec 4, 2024
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
About this deal
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.
The multifamily sale at 17 Otis Street in Somerville, Massachusetts sold for $2.2M in 2023. The building is 3,800 square feet, implying about 565 per square foot on the published price. Vito Neshev, Patricia Baker, Keller Williams Realty appear on the sale alongside Keller Williams Realty. This page is the Somerville, Massachusetts file for the 17 Otis Street multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Somerville sit in the Market section below. Filter that Somerville multifamily set by closing date to see what else sold near 17 Otis Street around 2023. Published consideration for 17 Otis Street is $2.2M, dated 2023. Cite this Keller Williams Realty Acquires Somerville Multifamily Asset For $2.15M sale when underwriting similar multifamily product around Somerville, Massachusetts.
On the Map
$2,150,000
$565/SF
MultiFamily
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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