Updated Dec 20, 2023
Marcus & Millichap Brokers Sell Somerville Multifamily Property For $4.8M
39 Gilman St, Somerville, Massachusetts 02145, United States
$4,800,000
Units
7
Asset Type
MultiFamily
Closing
Jun 2, 2022
About this deal
AI
A multifamily property located at 39-41 Gilman Street & 24 Belknap Street in Somerville, MA has been sold for a total price of $4,800,000. The property consists of 7 units, with each unit having a per-unit price of $685,714.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,800,000
- Units: 7
- Price Per Unit: $685,714
- Address: 39-41 Gilman Street & 24 Belknap Street
- Market: Somerville, MA
The sale of the property was facilitated by Tony Pepdjonovic, Evan Griffith, and Brendan Forauer from the agency Marcus & Millichap.
Players
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
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93