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18 Leland Street, Somervill...

RE/MAX Destiny Brokers Acquire Multifamily Property In Somerville For $1.5M
SOLDMultiFamily

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

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.

Players

David Lilley

Re/Max

Broker

$34.8M

vol

14 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

10.58%

Cash-on-Cash

-3.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93