Updated Dec 21, 2023
Sharon Shung Acquires Multifamily Property On Park Avenue, Somerville For $1.48M
24 Park Avenue, Somerville, MA, USA
$1,480,000
$449/SF
Building Size
3,291 SF
Asset Type
MultiFamily
Closing
Jan 3, 2021
About this deal
AI
The multifamily property located at 24 Park Avenue in Somerville, MA has been sold. The transaction took place on January 4, 2021. The property spans a total of 3,291 square feet and has a sale price of $1,480,000, resulting in a price per square foot of $450. It consists of 3 units, with an average price per unit of $493,333.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,480,000
- Address: 24 Park Avenue, Somerville, MA
- Market: Somerville, MA
Amy McManus & Andrew Odewahn were the sellers of the property, while Sharon Shung was the buyer. The sale was facilitated by C. Brendan Noonan III, representing C. Brendan Noonan & Company, Inc.
Players
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
10.72%
Cash-on-Cash
-3.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93