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Robert Koritz Of Robert Koritz Real Estate Represents Buyer In $1.065M Multifamily Sale In Somerville

Property Image
SOLD
$1,065,000

Massachusetts

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MultiFamily2,854 SF
Sold 07/16/2024
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Property Image
SOLD

Robert Koritz Of Robert Koritz Real Estate Represents Buyer In $1.065M Multifamily Sale In Somerville

200 Broadway

See Similar Deals
MultiFamily2,854 SF
Sold 07/16/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$373
Total Square Footage:2,854 SF
Transaction Type:Sale

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:

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

2 deals$2.2M volume
BROKER

Details

SOLD
IMAGE: Robert Koritz & Christine Curtin DATE: 07/16/2024 ADDRESS: 200 Broadway MARKET: Somerville, MA ASSET TYPE: Multifamily BUYER'S REP: Robert Koritz - Robert Koritz Real Estate SELLER'S REP: Christine Curtin (@CurtinChristine) - Classified Realty Group (@ClassifiedRlty) SALE PRICE: $1,065,000 UNITS: 2 ~ PPU: $532,500 SF: 2,854 ~ PPSF: $373 NOTE: A two-family home in East Somerville sold for $1,065,000, featuring 6 bedrooms, 2.5 bathrooms, and 2,854 sq. ft. The property includes near-matching first and second-floor apartments, a third-floor with a kitchenette and bath, wrap-around porches, and is conveniently located near local amenities and transportation.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$56,800.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,783.71
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,048.64
Annual Debt Service$60,583.72