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36 Springfield Street

Encompass Property Solutions LLC Acquires Somerville Multifamily For $1.1M
SOLDMultiFamily

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

John Raposo

Encompass Property Solutions

Broker

$6.3M

vol

5 deals

Broker

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