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226-228 School Street

William W. Brennan Of Greater Metropolitan Real Estate Represents Buyer In Somerville Multifamily Sale For $1.12M
SOLDMultiFamily

William W. Brennan Of Greater Metropolitan Real Estate Represents Buyer In Somerville Multifamily Sale For $1.12M

226-228 School Street

$1,120,000

$416/SF

Building Size

2,689 SF

Asset Type

MultiFamily

Closing

Sep 6, 2024

AI

A two-family home located at 226-228 School Street, Somerville, MA, was sold for $1,120,000. The property encompasses 2,689 square feet, featuring 4 bedrooms and 2 bathrooms. The asset includes a spacious corner lot, parking for 6 cars, and a small garage.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,120,000
  • Units: 2
  • Price Per Unit: $560,000
  • Square Footage: 2,689
  • Price Per Square Foot: $417
  • Buyer's Representative: William W. Brennan - Greater Metropolitan Real Estate
  • Seller's Representative: Huihua Huang - Feng Shui Realty

William W. Brennan represents the buyer in this transaction, while Huihua Huang represents the seller. The close collaboration between the representatives facilitated the successful completion of this multifamily property sale.

Players

Huihua Huang

Broker

$2.1M

vol

2 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

14.16%

Cash-on-Cash

-4.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93