facebook
Traded Co logo
Submit
Daily limit: 0/10

David Lilley & Tim Schmidt Of Re/Max Sell Multifamily Asset In Somerville For $1.295M

Property Image
SOLD
$1,295,000

Massachusetts

See Similar Deals
MultiFamily2,196 SF
Sold 06/21/2024
the dealplayerscompscontact
Property Image
SOLD

David Lilley & Tim Schmidt Of Re/Max Sell Multifamily Asset In Somerville For $1.295M

23 College Hill Road

See Similar Deals
MultiFamily2,196 SF
Sold 06/21/2024
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$589
Total Square Footage:2,196 SF
Transaction Type:Sale

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.

Players

David Lilley
14 deals$34.8M volume
BROKER

Tim Schmidt
Re/Max
2 deals$2.7M volume
BROKER

Details

SOLD
IMAGE: David Lilley & Tim Schmidt DATE: 06/21/2024 ADDRESS: 23 College Hill Road MARKET: Somerville, MA ASSET TYPE: Multifamily BROKERS: David Lilley & Tim Schmidt - Re/Max (@Remax) SALE PRICE: $1,295,000 UNITS: 2 ~ PPU: $647,500 SF: 2,196 ~ PPSF: $590 NOTE: 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.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$69,066.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,600.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,138.96
Annual Debt Service$73,667.53