Updated Dec 21, 2023
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
About this deal
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.
On the Map
$1,025,000
$361/SF
MultiFamily
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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