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29 Lake Street, Somerville,...

Updated Dec 21, 2023

Compass Helps Facilitate $1.05M Multifamily Sale In Somerville, MA
SOLDMultiFamily

Compass Helps Facilitate $1.05M Multifamily Sale In Somerville, MA

29 Lake Street, Somerville, Massachusetts, USA

$1,050,000

$456/SF

Building Size

2,299 SF

Asset Type

MultiFamily

Closing

Apr 14, 2021

About this deal

AI

Located at 29 Lake Street in Somerville, MA, this multifamily property was recently sold for $1,050,000 on April 15, 2021. The property spans 2,299 square feet, resulting in a price per square foot of $457. The sale was facilitated by Susan Gormady Group from Classified Realty Group, serving as the seller's representative, and Liz & Ellie Real Estate from Compass, acting as the buyer's representative.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,050,000
  • Square Footage: 2,299
  • Price per Square Foot: $457
  • Address: 29 Lake Street, Somerville, MA
  • Market: Somerville, MA

The seller's representative in this transaction was Susan Gormady Group from Classified Realty Group. On the other hand, Liz & Ellie Real Estate, affiliated with Compass, represented the buyer. These knowledgeable professionals played a crucial role in ensuring the successful completion of the sale.

Players

Susan Gormady

Broker

$1.1M

vol

1 deal

Broker

Somerville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $456 per square foot on a published $1.1M for 2,299 square feet (2021).

Visit Susan Gormady to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

15.11%

Cash-on-Cash

-4.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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