Updated Dec 4, 2024
Denman Drapkin Group Acquires Multifamily Property In Somerville, MA For $1.734M
282 Summer Street
$1,734,000
$497/SF
Building Size
3,484 SF
Asset Type
MultiFamily
Closing
Nov 14, 2023
About this deal
AI
A multifamily property located at 282 Summer Street in Somerville, MA, has been sold for a price of $1.734 million. The property spans a total square footage of 3,484, resulting in a price per square foot of $498.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,734,000
- Square Footage: 3,484
- Price Per Square Foot: $498
- Address: 282 Summer Street, Somerville, MA
- Market: Somerville, MA
Denman Drapkin Group - Compass facilitated the purchase of this multifamily property. Charles Ball, representing Berkshire Hathaway HomeServices, served as the seller's representative in the transaction.
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
9.15%
Cash-on-Cash
-2.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93