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33 Pennsylvania Avenue

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

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

33 Pennsylvania Avenue & 35 Pennsylvania Avenue

$1,050,000

$180/SF

Building Size

5,824 SF

Asset Type

MultiFamily

Closing

Feb 26, 2024

AI

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

Chaofang You

East Coast Realty

Broker

$1.1M

vol

1 deal

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

15.11%

Cash-on-Cash

-4.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93