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Dinghong Kevin Mei & Joe Danisch Facilitate $1.03M Multifamily Sale In Somerville, MA
SOLD
$1,030,000
Massachusetts
See Similar DealsMultiFamily2,549 SF
Sold 02/12/2024
SOLD
Dinghong Kevin Mei & Joe Danisch Facilitate $1.03M Multifamily Sale In Somerville, MA
23 Benedict Street
See Similar DealsMultiFamily2,549 SF
Sold 02/12/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$404
Total Square Footage:2,549 SF
Transaction Type:Sale
In Somerville, MA, a multifamily property at 23 Benedict Street was sold for $1,030,000. The transaction involved Dinghong Kevin Mei of Venture representing the buyer and Joe Danisch of Coelho Realty Group representing the seller.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,030,000
- Address: 23 Benedict Street
- Market: Somerville, MA
- Square Footage: 2,549
- Price per Square Foot: $404
- Buyer's Rep: Dinghong Kevin Mei - Venture
- Seller's Rep: Joe Danisch - Coelho Realty Group
The deal at 23 Benedict Street was successfully closed with Dinghong Kevin Mei from Venture representing the buyer in this transaction. On the other side, Joe Danisch of Coelho Realty Group acted as the seller's representative, facilitating the sale of the multifamily property.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$54,933.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,659.37
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,882.73
Annual Debt Service$58,592.71
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