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37 Warner Street

Updated Dec 4, 2024

Blue Ocean Realty Acquires Multifamily Property At 37 Warner Street, Somerville For $1.295M
SOLDMultiFamily

Blue Ocean Realty Acquires Multifamily Property At 37 Warner Street, Somerville For $1.295M

37 Warner Street

$1,295,000

$371/SF

Building Size

3,490 SF

Asset Type

MultiFamily

Closing

Aug 28, 2023

About this deal

AI

A multifamily property located at 37 Warner Street in Somerville, Massachusetts has been sold for $1,295,000. The property spans 3,490 square feet, resulting in a price per square foot of $371.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $1,295,000
  • Square Footage: 3,490
  • Address: 37 Warner Street, Somerville, MA
  • Market: Somerville, MA

The buyer's representative in this transaction was Heejeong Joo from Blue Ocean Realty, while the seller's representative was Ed Abrams from RE/MAX Destiny.

The multifamily sale at 37 Warner Street in Somerville, Massachusetts sold for $1.3M in 2023. The building is 3,490 square feet, implying about 371 per square foot on the published price. Ed Abrams, Heejeong Joo, Re/Max, Blue Ocean Property Management appear on the sale alongside Re/Max, Blue Ocean Property Management. This page is the Somerville, Massachusetts file for the 37 Warner Street multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Somerville sit in the Market section below. Filter that Somerville multifamily set by closing date to see what else sold near 37 Warner Street around 2023. Published consideration for 37 Warner Street is $1.3M, dated 2023. Cite this Blue Ocean Realty Acquires Multifamily Property At 37 Warner Street, Somerville For $1.295M sale when underwriting similar multifamily product around Somerville, Massachusetts.

Players

Ed Abrams

Re/Max

Broker

$1.3M

vol

1 deal

Broker

Somerville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $371 per square foot on a published $1.3M for 3,490 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

12.25%

Cash-on-Cash

-3.50%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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