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21 Elm Place

Updated Dec 4, 2024

Berkshire Hathaway HomeServices Acquires Multifamily Property In Somerville For $1.025M
SOLDMultiFamily

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.

On the Map

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$1,025,000

$262/SF

MultiFamily

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Players

Bob Bittelari

Berkshire Hathaway HomeServices

Broker

$1M

vol

1 deal

Broker

Somerville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $262 per square foot on a published $1M for 3,902 square feet (2023).

Visit Berkshire Hathaway HomeServices to view all their deals.

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

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