Updated Dec 4, 2024
Berkshire Hathaway HomeServices Acquires Multifamily Property In Somerville For $1.025M
21 Elm Place & 23 Elm Place
$1,025,000
$262/SF
Building Size
1,951 SF
Asset Type
MultiFamily
Closing
Sep 15, 2023
About this deal
AI
A multifamily property located at 21-23 Elm Place in Somerville, Massachusetts, was recently sold for $1,025,000. The property has a total square footage of 1,951 and was sold at a price per square foot of $525. The transaction was brokered by Bob Bittelari of Berkshire Hathaway HomeServices Commonwealth Real Estate.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,025,000
- Address: 21-23 Elm Place, Somerville, MA
- Market: Somerville, MA
- Square Footage: 1,951
- Price per Square Foot: $525
- Broker: Bob Bittelari - Berkshire Hathaway HomeServices Commonwealth Real Estate
Bob Bittelari of Berkshire Hathaway HomeServices Commonwealth Real Estate played a crucial role in facilitating this property transaction. His expertise and experience in the market allowed him to negotiate and close the deal successfully. The sale of the multifamily property at 21-23 Elm Place highlights Bittelari's proficiency in the real estate industry.
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
15.48%
Cash-on-Cash
-4.42%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93