Updated Dec 4, 2024
Gibson Sotheby's International Realty Acquires Multifamily Property In Somerville, MA For $1.6M
36 Burnside Avenue
$1,600,000
$457/SF
Building Size
3,498 SF
Asset Type
MultiFamily
Closing
Nov 17, 2023
About this deal
AI
In Somerville, MA, a multifamily property at 36 Burnside Avenue has been sold for $1,600,000. The property has a total area of 3,498 square feet, resulting in a price per square foot of $457.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,600,000
- Address: 36 Burnside Avenue, Somerville, MA
- Market: Somerville, MA
The buyer's representative, Lauren Holleran of Gibson Sotheby's International Realty, represented the buyer in this transaction. On the other hand, the seller's representative, Charles Cherney of Compass, represented the seller.
Please note that Lauren Holleran of Gibson Sotheby's International Realty represented the buyer and Charles Cherney of Compass represented the seller in the sale of the multifamily property at 36 Burnside Avenue in Somerville, MA.
On the Map
$1,600,000
$457/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
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93