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34 Summer St, Somerville, M...

Updated Dec 19, 2023

Bena Apreala Of In REM Real Estate Acquires Multifamily Property In Somerville, MA For $1.15M
SOLDMultiFamily

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

Bena Apreala

Broker

$1.2M

vol

1 deal

Broker

Somerville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $487 per square foot on a published $1.2M for 2,357 square feet (2021).

Visit Leandro DaRosa to view all their deals.

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

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