Updated Dec 4, 2024
Multifamily Property In Somerville, MA Sold For $1.2M
38 Illinois Avenue
$1,200,000
$274/SF
Building Size
4,372 SF
Asset Type
MultiFamily
Closing
Sep 28, 2023
About this deal
AI
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.
The multifamily sale at 38 Illinois Avenue in Somerville, Massachusetts sold for $1.2M in 2023. The building is 4,372 square feet, implying about 274 per square foot on the published price. Christie Xie, Katerina Mendoza, Centre Realty Group, Nuage Real Estate Group appear on the sale alongside Centre Realty Group, Nuage Real Estate Group. This page is the Somerville, Massachusetts file for the 38 Illinois Avenue 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 38 Illinois Avenue around 2023. Published consideration for 38 Illinois Avenue is $1.2M, dated 2023. Cite this Multifamily Property In Somerville, MA Sold For $1.2M sale when underwriting similar multifamily product around Somerville, Massachusetts.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.22%
Cash-on-Cash
-3.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93