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Multifamily Property In Somerville, MA Sold For $1.2M
SOLD
Massachusetts
See Similar DealsMultiFamily4,372 SF
Sold 09/28/2023
SOLD
Multifamily Property In Somerville, MA Sold For $1.2M
38 Illinois Avenue
See Similar DealsMultiFamily4,372 SF
Sold 09/28/2023
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$274
Total Square Footage:4,372 SF
Transaction Type:Sale
A multifamily property located at 38 Illinois Avenue in Somerville, Massachusetts, was sold for $1.2 million, at a rate of $274 per square foot.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,200,000
- Address: 38 Illinois Avenue
- Market: Somerville, MA
The buyer's representative in this transaction was Katerina Mendoza from Centre Realty Group, while the seller's representative was Christie Xie from Nuage Real Estate Group.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$64,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,263.34
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,688.61
Annual Debt Service$68,263.35
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