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20 Banks Street, Somerville...

Berkshire Hathaway HomeServices Acquires Multifamily Property In Somerville, MA For $1.16M
SOLDMultiFamily

Berkshire Hathaway HomeServices Acquires Multifamily Property In Somerville, MA For $1.16M

20 Banks Street, Somerville, MA, USA

$1,160,000

$362/SF

Building Size

3,199 SF

Asset Type

MultiFamily

Closing

Feb 25, 2021

AI

The multifamily property located at 20 Banks Street in Somerville, MA has been sold for a price of $1,160,000. The transaction took place on February 26, 2021. The property spans a total area of 3,199 square feet, resulting in a price per square foot of $363. The sale was represented by John Buccelli of Berkshire Hathaway HomeServices Verani Realty, who acted as the seller's representative. Garrett Einis of Jordan Realty represented the buyer in this transaction.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $1,160,000
  • Date: 02/26/2021
  • Address: 20 Banks Street
  • Market: Somerville, MA
  • Square Footage: 3,199
  • Price per Square Foot: $363
  • Seller's Representative: John Buccelli - Berkshire Hathaway HomeServices Verani Realty
  • Buyer's Representative: Garrett Einis - Jordan Realty

Garrett Einis from Jordan Realty worked as the buyer's representative in this sale, while John Buccelli from Berkshire Hathaway HomeServices Verani Realty represented the seller. These individuals and their respective agencies played a crucial role in facilitating the transaction, ensuring a successful deal for both parties involved.

Players

Jordan Ray

Institutional Property Advisors

Broker

$637.1M

vol

15 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

13.68%

Cash-on-Cash

-3.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93