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319 Alewife Brook Parkway, ...

RE/MAX Destiny Sells Somerville Multifamily For $1.025M With Buyer's Rep Sterling Beacon Hill
SOLDMultiFamily

RE/MAX Destiny Sells Somerville Multifamily For $1.025M With Buyer's Rep Sterling Beacon Hill

319 Alewife Brook Parkway, Somerville, MA 02144, USA

$1,025,000

$361/SF

Building Size

2,833 SF

Asset Type

MultiFamily

Closing

May 24, 2020

AI

This multifamily property located at 319 Alewife Brook Pkwy in Somerville, MA, was recently sold for $1,025,000. The transaction took place on 05/24/2021 and was facilitated by David Hariri of RE/MAX Destiny, representing the seller, and Lawrence O'Connor of Sterling Beacon Hill, representing the buyer. The property spans 2,833 square feet, resulting in a price per square foot of $362.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,025,000
  • Date: 05/24/2021
  • Address: 319 Alewife Brook Pkwy
  • Market: Somerville, MA
  • Seller's Rep: David Hariri - RE/MAX Destiny
  • Buyer's Rep: Lawrence O'Connor - Sterling Beacon Hill
  • SF: 2,833
  • PPSF: $362

The seller, David Hariri, represented by RE/MAX Destiny, and the buyer, Lawrence O'Connor, represented by Sterling Beacon Hill, played key roles in this transaction. Their expertise and negotiation skills contributed to the successful sale of this multifamily property.

Players

Lawrance O'Connor

Broker

$11.8M

vol

4 deals

Broker

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

15.48%

Cash-on-Cash

-4.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93