Christine Hrenko Of East Center Realty Represents Buyer In Somerville Multifamily Sale For $1.58M
214 Highland Avenue
$1,580,000
$478/SF
Building Size
3,305 SF
Asset Type
MultiFamily
Closing
Aug 28, 2024
AI
A multifamily asset located at 214 Highland Avenue in Somerville, MA, has been sold for $1,580,000. The property comprises three residential units, totaling 3,305 square feet, featuring six bedrooms and three bathrooms. The price per unit is approximately $526,667, while the price per square foot is around $478.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,580,000
- Units: 3
- PPU: $526,667
- SF: 3,305
- PPSF: $478
The buyer is represented by Christine Hrenko from East Center Realty, while the seller has Jason Manganello from William Raveis Real Estate as their representative. This transaction reflects the activity in Somerville's real estate market, particularly in the desirable Spring Hill neighborhood.
Players
Somerville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.04%
Cash-on-Cash
-2.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93