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33 Spring Street

Salman Kazmi Of Shk Residential Acquires Multifamily Property At 33 Spring St, Somerville, MA For $1.3M
SOLDMultiFamily

Salman Kazmi Of Shk Residential Acquires Multifamily Property At 33 Spring St, Somerville, MA For $1.3M

33 Spring Street

$1,300,000

$541/SF

Building Size

2,400 SF

Asset Type

MultiFamily

Closing

Nov 17, 2023

AI

In Somerville, MA, a multifamily property at 33 Spring Street has changed ownership. The property spans 2,400 square feet and was sold for a total price of $1,300,000, resulting in a price per square foot of $542. The transaction took place on 11/17/2023.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,300,000
  • Address: 33 Spring Street
  • Market: Somerville, MA

Salman Kazmi of Shk Residential represented the buyer in this transaction, while Paul Santucci of True North Realty represented the seller. Their expertise and negotiation skills played a crucial role in facilitating the successful sale of the property.

It is worth noting that this transaction marks a significant milestone for both the buyer and the seller in the Somerville, MA market.

Players

Paul Santucci

True North Realty

Broker

$1.3M

vol

1 deal

Broker

Somerville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

12.20%

Cash-on-Cash

-3.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93