Updated Dec 19, 2023
Bena Apreala Of In REM Real Estate Acquires Multifamily Property In Somerville, MA For $1.15M
34 Summer St, Somerville, MA, USA
$1,150,000
$487/SF
Building Size
2,357 SF
Asset Type
MultiFamily
Closing
Oct 12, 2021
About this deal
AI
The multifamily property located at 34 Summer St in Somerville, MA has been sold. The transaction was facilitated by Bena Apreala from In REM Real Estate P.C., who represented the buyer, and Leandro DaRosa from Andrade Associates, who represented the seller. The sale price for the property was $1,150,000. The property spans across 2,357 square feet, resulting in a price per square foot of $488.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,150,000
- Address: 34 Summer St, Somerville, MA
- Market: Somerville, MA
- Buyer's Representative: Bena Apreala - In REM Real Estate P.C.
- Seller's Representative: Leandro DaRosa - Andrade Associates
- Square Footage: 2,357
- Price per Square Foot: $488
Bena Apreala from In REM Real Estate P.C. and Leandro DaRosa from Andrade Associates played key roles in facilitating the sale of the multifamily property. They ensured a successful transaction between the buyer and the seller, representing their respective clients throughout the process.
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
13.79%
Cash-on-Cash
-3.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93