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26 Fellsway West

Marina Papanova Of New Neighbors Acquires Multifamily Property In Somerville, MA For $1.05M
SOLDMultiFamily

Marina Papanova Of New Neighbors Acquires Multifamily Property In Somerville, MA For $1.05M

26 Fellsway West

$1,050,000

$289/SF

Building Size

3,628 SF

Asset Type

MultiFamily

Closing

Nov 20, 2023

AI

A multifamily property located at 26 Fellsway West in Somerville, MA, has been sold for $1,050,000. The property spans 3,628 square feet, resulting in a price per square foot of $289.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,050,000
  • Address: 26 Fellsway West, Somerville, MA
  • Market: Somerville, MA

The buyer's representative in this transaction was Marina Papanova of New Neighbors, while the seller's representative was Maureen Kelly Fromm of Re/Max Preferred Properties. The involvement of these individuals and agencies facilitated the successful sale of the multifamily property.

Players

Maureen Kelly Fromm

Re/Max

Broker

$12M

vol

5 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

15.11%

Cash-on-Cash

-4.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93