Updated Dec 4, 2024
Robert Koritz Of Robert Koritz Real Estate Represents Buyer In $1.065M Multifamily Sale In Somerville
200 Broadway
$1,065,000
$373/SF
Building Size
2,854 SF
Asset Type
MultiFamily
Closing
Jul 16, 2024
About this deal
AI
A two-family home located at 200 Broadway in Somerville, MA, sold for $1,065,000. The property has a total square footage of 2,854 and features 6 bedrooms and 2.5 bathrooms. It includes near-matching first and second-floor apartments, a third floor with a kitchenette and bath, and wrap-around porches. The location offers convenient access to local amenities and transportation.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,065,000
- Units: 2
- Price Per Unit: $532,500
- Square Footage: 2,854
- Price Per Square Foot: $373
- Buyer's Representative: Robert Koritz - Robert Koritz Real Estate
- Seller's Representative: Christine Curtin - Classified Realty Group
This transaction included Robert Koritz representing the buyer and Christine Curtin representing the seller, ensuring the interests of both parties were adequately addressed throughout the sale process.
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
14.89%
Cash-on-Cash
-4.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93