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Multifamily Property In Somerville MA Sold For $1.05M With Buyer's And Seller's Reps

Property Image
SOLD
$1,050,000

Massachusetts

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MultiFamily5,824 SF
Sold
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Property Image
SOLD

Multifamily Property In Somerville MA Sold For $1.05M With Buyer's And Seller's Reps

33 Pennsylvania Avenue

See Similar Deals
MultiFamily5,824 SF
Sold
the dealplayerscompscontact
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$180
Total Square Footage:5824 SF
Transaction Type:Sale

The multifamily property at 33-35 Pennsylvania Avenue in Somerville, MA, was recently sold for $1,050,000. Spanning a total of 2,912 square feet, the property was purchased at a price per square foot of $361.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,050,000
  • Address: 33-35 Pennsylvania Avenue
  • Market: Somerville, MA

The sale transaction was mediated by Chaofang You from East Coast Realty representing the buyer and The Rasner Group from Keller Williams Boston-Metro representing the seller. This successful deal showcased the expertise and negotiation skills of these two renowned brokerage firms.

Players

CY
East Coast Realty
Chaofang You
1 deal$1.1M volume
BROKER

Details

SOLD
IMAGE: 02/26/2024 ADDRESS: 33-35 Pennsylvania Avenue MARKET: Somerville, MA ASSET TYPE: Multifamily BUYER'S REP: Chaofang You - East Coast Realty (@EastCoastRealty365) SELLER'S REP: The Rasner Group - Keller Williams Boston-Metro SALE PRICE: $1,050,000 SF: 2,912 ~ PPSF: $361 NOTE: A multifamily property at 33-35 Pennsylvania Avenue has been sold for $1,050,000. The transaction was facilitated by Chaofang You of East Coast Realty and The Rasner Group of Keller Williams Boston-Metro.

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Operating Income
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Net Operating Income (NOI)

$55,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$3,730.43
Cash-on-Cash Return-1.27%
Monthly Debt Service$4,977.54
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