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37 Warner Street

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

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.

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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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