David Lilley & Tim Schmidt Of Re/Max Sell Multifamily Asset In Somerville For $1.295M
23 College Hill Road
$1,295,000
$589/SF
Building Size
2,196 SF
Asset Type
MultiFamily
Closing
Jun 21, 2024
AI
23 College Hill Rd, Somerville, MA 02144, sold for $1,295,000. This two-family home in West Somerville offers a prime location near the new MBTA Green Line stop and Davis Square. With antique maple floors, enclosed back porches, and a spacious backyard, it's ideal for multi-generational living or condo conversion, making it a valuable investment in a sought-after neighborhood.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,295,000
- Units: 2
- Price per Unit: $647,500
- Square Footage: 2,196
- Price per Square Foot: $590
- Address: 23 College Hill Rd, Somerville, MA
- Market: Somerville, MA
- Brokers: David Lilley & Tim Schmidt - Re/Max
This transaction was facilitated by David Lilley & Tim Schmidt from Re/Max, who represented the parties involved in the sale of the property at 23 College Hill Road. Their expertise and guidance ensured a successful deal in the vibrant real estate market of Somerville, MA.
Somerville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
12.25%
Cash-on-Cash
-3.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93