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Gibson Sotheby's & Compass Close $1.65M Sale Of Somerville Multifamily

Property Image
SOLD
$1,650,000
Maggie Currier
Chris Young
+ 1

Massachusetts

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MultiFamily3,085 SF
Sold 04/30/2024
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Property Image
SOLD

Gibson Sotheby's & Compass Close $1.65M Sale Of Somerville Multifamily

21 Burnside Avenue

See Similar Deals
MultiFamily3,085 SF
Sold 04/30/2024
Maggie Currier
Chris Young
+ 1
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$534
Total Square Footage:3,085 SF
Transaction Type:Sale

A 3-family home at 21 Burnside Ave, Somerville, sold for $1.65 million, offering 4 beds and 3 baths across 3,085 square feet. Situated near Porter Square, the property boasts rich wood paneling, arched doorways, and modern amenities, providing a unique blend of historical charm and contemporary comfort.

Summary of transation details:

The deal involved George Horiatis representing the buyer from Gibson Sotheby's International Realty, and on the seller's side, Chris Young, Maggie Currier, and Spencer Lane from Compass. The transaction, finalized on 04/30/2024, showcased a successful collaboration between the buyer's and seller's representatives in closing the sale.

Players

Chris Young
29 deals$21.5M volume
BROKER

Maggie Currier
Compass
11 deals$21.5M volume
BROKER

Spencer Lane
Compass
11 deals$21.5M volume
BROKER

George Horiatis
Sotheby's International Realty
1 deal$1.7M volume(781) 999-4835
BROKER

Details

SOLD
IMAGE: George Horiatis, Chris Young, Maggie Currier & Spencer Lane DATE: 04/30/2024 ADDRESS: 21 Burnside Avenue MARKET: Somerville, MA ASSET TYPE: Multifamily BUYER'S REP: George Horiatis (@GHoriatis_Realtor) - Gibson Sotheby's International Realty (@Gibson_SIR) SELLER'S REP: Chris Young, Maggie Currier & Spencer Lane (@CurrierLaneYoung) - Compass (@Compass) SALE PRICE: $1,650,000 UNITS: 3 ~ PPU: $550,000 SF: 3,085 ~ PPSF: $535 NOTE: A 3-family home at 21 Burnside Ave, Somerville, sold for $1.65 million, offering 4 beds and 3 baths across 3,085 square feet. Situated near Porter Square, the property boasts rich wood paneling, arched doorways, and modern amenities, providing a unique blend of historical charm and contemporary comfort.

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

$88,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,862.09
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,821.84
Annual Debt Service$93,862.10