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Engel & Volkers Newton Acquires Multifamily Property In Somerville, MA For $1.665M

Property Image
SOLD
$1,665,000

Massachusetts

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MultiFamily3,706 SF
Sold 05/14/2020
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Property Image
SOLD

Engel & Volkers Newton Acquires Multifamily Property In Somerville, MA For $1.665M

28 Franklin St, Somerville, MA 02145

See Similar Deals
MultiFamily3,706 SF
Sold 05/14/2020
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$449
Total Square Footage:3,706 SF
Transaction Type:Sale

The multifamily property located at 28 Franklin St in Somerville, MA was recently sold. The sale was facilitated by Shane Marrion from Benoit Real Estate Group, LLC, who represented the seller, and David-Daili Xiao from Engel & Volkers Newton, who represented the buyer. The transaction took place on 05/14/2021 for a sale price of $1,665,000. The property spans 3,706 square feet, resulting in a price per square foot of $449.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $1,665,000
  • Address: 28 Franklin St, Somerville, MA
  • Seller's Representative: Shane Marrion - Benoit Real Estate Group, LLC
  • Buyer's Representative: David-Daili Xiao - Engel & Volkers Newton
  • Square Footage: 3,706
  • Price per Square Foot: $449

Detailed analysis of the deal's key individuals and companies involved revealed that Shane Marrion from Benoit Real Estate Group, LLC represented the seller, while David-Daili Xiao from Engel & Volkers Newton represented the buyer. This successful transaction showcases the expertise of these professionals in the real estate market.

Players

Shane Marrion
5 deals$6.8M volume
BROKER

David-Daili Xiao
Engel & Völkers
1 deal$1.7M volume
BROKER

Details

SOLD
IMAGE: David-Daili Xiao & Shane Marrion DATE: 05/14/2021 ADDRESS: 28 Franklin St MARKET: Somerville, MA ASSET TYPE: Multifamily SELLER'S REP: Shane Marrion - Benoit Real Estate Group ,LLC BUYER'S REP: David-Daili Xiao - Engel & Volkers Newton SALE PRICE: $1,665,000 SF: 3,706 ~ PPSF: $449

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,915.39
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,892.95
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