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
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