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Christine Hrenko Of East Center Realty Represents Buyer In Somerville Multifamily Sale For $1.58M
SOLD
$1,580,000
Massachusetts
See Similar DealsMultiFamily3,305 SF
Sold 08/28/2024
SOLD
Christine Hrenko Of East Center Realty Represents Buyer In Somerville Multifamily Sale For $1.58M
214 Highland Avenue
See Similar DealsMultiFamily3,305 SF
Sold 08/28/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$478
Total Square Footage:3,305 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$84,266.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,613.41
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,490.01
Annual Debt Service$89,880.07
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