Updated Dec 21, 2023
Dreamhouse Team Acquires Multifamily Property In Somerville, MA For $1.66M
28 Moreland Street, Somerville, Massachusetts 02145, United States
$1,660,000
$410/SF
Building Size
4,048 SF
Asset Type
MultiFamily
Closing
Mar 3, 2022
About this deal
AI
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.
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
9.56%
Cash-on-Cash
-2.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93