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36 Burnside Avenue

Gibson Sotheby's International Realty Acquires Multifamily Property In Somerville, MA For $1.6M
SOLDMultiFamily

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

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.

Players

Charles Cherney

Compass

Broker

$9.5M

vol

6 deals

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

9.91%

Cash-on-Cash

-2.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93