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William W. Brennan Of Greater Metropolitan Real Estate Represents Buyer In Somerville Multifamily Sale For $1.12M
SOLD
Massachusetts
See Similar DealsMultiFamily2,689 SF
Sold 09/06/2024
SOLD
William W. Brennan Of Greater Metropolitan Real Estate Represents Buyer In Somerville Multifamily Sale For $1.12M
226-228 School Street
See Similar DealsMultiFamily2,689 SF
Sold 09/06/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$416
Total Square Footage:2,689 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$59,733.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,979.12
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,309.37
Annual Debt Service$63,712.46
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