Updated Dec 4, 2024
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
About this deal
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.
On the Map
$1,300,000
$541/SF
MultiFamily
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Players
Somerville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $541 per square foot on a published $1.3M for 2,400 square feet (2023).
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Browse Somerville multifamily sales on Traded.
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