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.
On the Map
$1,650,000
$531/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
9.61%
Cash-on-Cash
-2.75%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93