facebook
Traded Co logo
Submit

Re/Max Destiny Acquires Multifamily Property In Somerville, MA For $1.11M

Property Image
SOLD
$1,111,000

Massachusetts

See Similar Deals
MultiFamily3,394 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Re/Max Destiny Acquires Multifamily Property In Somerville, MA For $1.11M

23 Franklin Street, Somerville, Massachusetts 02145, United States

See Similar Deals
MultiFamily3,394 SF
Sold
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$327
Total Square Footage:3394 SF
Transaction Type:Sale

The multifamily property located at 23 Franklin St in Somerville, MA has been sold. The transaction took place on 12/15/2021 and was facilitated by Laurie Devereaux from Century 21 Advance Realty, who represented the seller, and Sage Jankowitz from Re/Max Destiny, who represented the buyer. The property spans 3,394 square feet and was sold for a price of $1,111,000, resulting in a price per square foot of $327.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,111,000
  • Date: 12/15/2021
  • Address: 23 Franklin St, Somerville, MA
  • Market: Somerville, MA
  • Buyer's Rep: Sage Jankowitz - Re/Max Destiny
  • Seller's Rep: Laurie Devereaux - Century 21 Advance Realty
  • Square Footage: 3,394
  • Price per Square Foot: $327

Laurie Devereaux from Century 21 Advance Realty represented the seller in this transaction, while Sage Jankowitz of Re/Max Destiny represented the buyer. The sale of this multifamily property provides an opportunity for the new owner to generate rental income and capitalize on the property's potential. The market in Somerville, MA offers a favorable environment for real estate transactions, making this sale a sound investment for both parties involved.

Players

Sage Jankowitz
2 deals$2.9M volume
BROKER

Laurie Devereaux
Century 21
2 deals$2.3M volume
BROKER

Details

SOLD
IMAGE: Laurie Devereaux DATE: 12/15/2021 ADDRESS: 23 Franklin St MARKET: Somerville, MA ASSET TYPE: Multifamily BUYER'S REP: Sage Jankowitz - Re/Max Destiny SELLER'S REP: Laurie Devereaux - Century 21 Advance Realty SALE PRICE: $1,111,000 SF: 3,394 ~ PPSF: $327

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)

$59,253.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,947.15
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,266.71
Annual Debt Service$63,200.48