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20 Fairfax Street

Emanuel Coelho Of Coelho Realty Group Represents Buyer In $1.11M Somerville Multifamily Sale
SOLDMultiFamily

Emanuel Coelho Of Coelho Realty Group Represents Buyer In $1.11M Somerville Multifamily Sale

20 Fairfax Street

$1,110,000

$502/SF

Building Size

2,208 SF

Asset Type

MultiFamily

Closing

Jul 16, 2024

AI

A multi-family property located at 20 Fairfax Street in Somerville, MA, has been sold for $1,110,000. The asset encompasses 2,208 sq. ft. and features 5 bedrooms and 2 bathrooms. Additional characteristics include a spacious living and dining area, updated gas boilers, insulated windows, a cozy backyard, and off-street parking.

Summary of transaction details:

The transaction involved Emanuel Coelho from Coelho Realty Group representing the buyer and Fred Van Magness from Lyric Properties representing the seller. This successful deal highlights the collaboration between the two brokerage firms in the multifamily property market of West Somerville.

Players

Fred Van Magness

Lyric Properties

Broker

$1.1M

vol

1 deal

Broker

Somerville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

14.29%

Cash-on-Cash

-4.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93