Encompass Property Solutions LLC Acquires Somerville Multifamily For $1.1M
36 Springfield Street
$1,100,000
$498/SF
Building Size
2,207 SF
Asset Type
MultiFamily
Closing
Aug 31, 2023
AI
A multifamily property located at 36 Springfield Street in Somerville, MA, was recently sold for $1.1 million. The property measures 2,207 square feet and was sold at a price per square foot of $498. The transaction was facilitated by buyer's representative John Raposo of Encompass Property Solutions LLC and seller's representative Darryln Leikauskas from Berkshire Hathaway HomeServices.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,100,000
- Square Footage: 2,207
- Price Per Square Foot: $498
- Address: 36 Springfield Street, Somerville, MA
- Buyer's Representative: John Raposo - Encompass Property Solutions LLC
- Seller's Representative: Darryln Leikauskas - Berkshire Hathaway HomeServices
The sale of the property was successfully concluded with the assistance of John Raposo from Encompass Property Solutions LLC representing the buyer and Darryln Leikauskas from Berkshire Hathaway HomeServices representing the seller. These individuals played a crucial role in finalizing the deal, ensuring a smooth transaction for both parties involved.
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
14.42%
Cash-on-Cash
-4.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93