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214 Highland Avenue

Christine Hrenko Of East Center Realty Represents Buyer In Somerville Multifamily Sale For $1.58M
SOLDMultiFamily

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

Jason Manganello

William Raveis Real Estate

Broker

$10.9M

vol

4 deals

Broker

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