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Multifamily Property In Somerville, MA Sold For $1.2M

Property Image
SOLD
$1,200,000

Massachusetts

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MultiFamily4,372 SF
Sold 09/28/2023
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Property Image
SOLD

Multifamily Property In Somerville, MA Sold For $1.2M

38 Illinois Avenue

See Similar Deals
MultiFamily4,372 SF
Sold 09/28/2023
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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.

Players

Christie Xie
7 deals$9.5M volume
BROKER

Katerina Mendoza
Centre Realty Group
1 deal$1.2M volume(617) 953-9149
BROKER

Details

SOLD
IMAGE: Christie Xie & Katerina Mendoza DATE: 09/28/2023 ADDRESS: 38 Illinois Avenue MARKET: Somerville, MA ASSET TYPE: Multifamily BUYER'S REP: Katerina Mendoza - Centre Realty Group (@CentreRealty) SELLER'S REP: Christie Xie (@Keepingupwithxtie) - Nuage Real Estate Group (@NuageGroup) SALE PRICE: $1,200,000 SF: 4,372 ~ PPSF: $274 NOTE: 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.

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Net Operating Income (NOI)

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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
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