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23 College Hill Road

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

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.

Players

David Lilley

Re/Max

Broker

$34.8M

vol

14 deals

Broker

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

12.25%

Cash-on-Cash

-3.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93