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282 Summer Street

Updated Dec 4, 2024

Denman Drapkin Group Acquires Multifamily Property In Somerville, MA For $1.734M
SOLDMultiFamily

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.

Players

Charles Ball

Berkshire Hathaway HomeServices

Broker

$11.8M

vol

7 deals

Broker

Somerville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $497 per square foot on a published $1.7M for 3,484 square feet (2023).

Visit Charles Ball to view all their deals.

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

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