255 Medford Street Realty Trust Acquires 255 Medford St Somerville For $2.85 Million

The sale involved a 9-unit apartment building located at 255 Medford St, Somerville, MA, with a total square footage of 6,370. The transaction closed at a price of $2,850,000. The building features 3 two-bedroom and 6 one-bedroom apartments within a three-story brick garden style building constructed in 1970.

Summary of transaction details:

• Property Type: Apartment Building
• Transaction Amount: $2,850,000.00
• Address: 255 Medford St, Somerville, MA, 02143
• Market: Somerville
• Seller's Representative: Jack Creahan - United Multi Family
• Buyer: 255 Medford Street Realty Trust
• CAP Rate: 3.67%
• Gross Annual Income: $146,700
• Financing Provided by: East Boston Savings Bank

Jack Creahan of United Multi Family represented the seller, the Wang Family Trust, and facilitated the procurement of the buyer in this off-market transaction. The property was sold to 255 Medford Street Realty Trust and involved a collaboration that concluded successfully without public listing.