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:
- Property Type: Multifamily
- Transaction Amount: $1,110,000
- Square Footage: 2,208 sq. ft.
- Price Per Square Foot: $503
- Buyer’s Representative: Emanuel Coelho - Coelho Realty Group
- Seller’s Representative: Fred Van Magness - Lyric Properties
- Transaction Date: 07/16/2024
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
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
14.29%
Cash-on-Cash
-4.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93