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
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