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21 Burnside Avenue

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

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

21 Burnside Avenue

$1,650,000

$534/SF

Building Size

3,085 SF

Asset Type

MultiFamily

Closing

Apr 30, 2024

AI

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

Compass

Broker

$21.5M

vol

29 deals

Broker

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

9.61%

Cash-on-Cash

-2.75%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93