Updated Dec 20, 2023
RE/MAX Destiny Brokers Acquire Multifamily Property In Somerville For $1.5M
18 Leland Street, Somerville, Massachusetts, USA
$1,500,000
$511/SF
Building Size
2,934 SF
Asset Type
MultiFamily
Closing
Nov 22, 2021
About this deal
AI
Located at 18 Leland St in Somerville, MA, this multifamily property was recently sold. The transaction took place on 11/22/2021 for a sale price of $1,500,000. The property consists of 3 units, resulting in a price per unit (PPU) of $500,000. The total square footage of the property is 2,934, with a price per square foot (PPSF) of $511.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,500,000
- Address: 18 Leland St, Somerville, MA
- Market: Somerville, MA
The sale was facilitated by the brokers David Lilley and Sandrine Deschaux of RE/MAX Destiny. They represented the parties involved in the transaction.
On the Map
$1,500,000
$511/SF
MultiFamily
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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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93