Updated Dec 21, 2023
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
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
15.11%
Cash-on-Cash
-4.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93