Updated Dec 21, 2023
Berkshire Hathaway HomeServices Acquires Multifamily Property In Somerville, MA For $1.65M
33 Preston Rd, Somerville, Massachusetts, USA
$1,650,000
$531/SF
Building Size
3,103 SF
Asset Type
MultiFamily
Closing
Nov 19, 2021
About this deal
AI
The multifamily property located at 33 Preston Rd in Somerville, MA has been sold for $1,650,000. The property spans 3,103 square feet, resulting in a price per square foot of $532.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,650,000
- Market: Somerville, MA
- Seller's Representative: Charles Ball - Berkshire Hathaway HomeServices Commonwealth Real Estate
- Buyer's Representative: Clinton Wilson - FlyHomes, Inc.
- Square Footage: 3,103
- Price Per Square Foot: $532
Charles Ball, representing Berkshire Hathaway HomeServices Commonwealth Real Estate, acted as the seller's representative in the transaction. Clinton Wilson, from FlyHomes, Inc., represented the buyer.
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
9.61%
Cash-on-Cash
-2.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93