Updated Dec 4, 2024
Blaise Coco Of Berkshire Hathaway HomeServices Verani Realty Acquires Multifamily Property In Somerville, MA For $1.61M As Buyer's Rep
21 Magnus Avenue
$1,610,000
$480/SF
Building Size
3,348 SF
Asset Type
MultiFamily
Closing
Feb 29, 2024
About this deal
AI
The multifamily property located at 21 Magnus Avenue in Somerville, MA, was sold for $1,610,000. The property spans 3,348 square feet, resulting in a price per square foot of $481.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,610,000
- Address: 21 Magnus Avenue
- Market: Somerville, MA
- Buyer's Rep: Blaise Coco - Berkshire Hathaway HomeServices Verani Realty
- Seller's Rep: Yuren Chen - S&W Consulting Group
Blaise Coco of Berkshire Hathaway HomeServices Verani Realty represented the buyer in the transaction, while the seller was represented by Yuren Chen of S&W Consulting Group.
Players
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
9.85%
Cash-on-Cash
-2.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93