Douglas Elliman Acquires Multifamily Property In Somerville, MA For $1.05M
31 Conwell Ave Somerville, MA 02144, USA
$1,050,000
$493/SF
Building Size
2,126 SF
Asset Type
MultiFamily
Closing
Aug 15, 2023
AI
In Somerville, MA, a multifamily property at 31 Conwell Avenue was sold for $1,050,000. The property has a total area of 2,126 square feet, resulting in a price per square foot of $494. The transaction was facilitated by The Sarkis Team of Douglas Elliman Real Estate, representing the buyer, and Jeffrey Stephens of Compass, representing the seller.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,050,000
- Address: 31 Conwell Avenue, Somerville, MA
- Market: Somerville, MA
- Buyer's Representative: The Sarkis Team - George Sarkis - Douglas Elliman Real Estate
- Seller's Representative: Jeffrey Stephens - Compass
- Square Footage: 2,126
- Price per Square Foot: $494
The Sarkis Team, led by George Sarkis, represented the buyer in the transaction. They are real estate brokers associated with Douglas Elliman Real Estate. Jeffrey Stephens, a representative from Compass, acted as the seller's broker. The collaboration between these industry professionals culminated in the successful sale of the multifamily property at 31 Conwell Avenue.
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