Dreamhouse Team Acquires Multifamily Property In Somerville, MA For $1.66M
SOLD
$1,660,000
Massachusetts
See Similar DealsMultiFamily4,048 SF
Sold 03/04/2022
SOLD
Dreamhouse Team Acquires Multifamily Property In Somerville, MA For $1.66M
28 Moreland Street, Somerville, Massachusetts 02145, United States
See Similar DealsMultiFamily4,048 SF
Sold 03/04/2022
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$410
Total Square Footage:4,048 SF
Transaction Type:Sale
The multifamily property located at 28 Moreland St in Somerville, MA has been sold. The transaction took place on March 4, 2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,660,000
- Address: 28 Moreland St, Somerville, MA
- Market: Somerville, MA
The buyer's representative in this deal was the Dreamhouse Team from the Phoenix Real Estate Group, LLC. On the other hand, Zhengnan Kang, representing Blue Ocean Realty, LLC, acted as the seller's representative.
The property spans across 4,048 square feet. The price per square foot for this transaction was calculated to be $410.
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30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$88,533.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,897.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,869.25
Annual Debt Service$94,430.96
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