Updated Dec 4, 2024
Media Realty's Mo Zadeh Acquires Somerville Multifamily Property For $2.3M
40 Cherry Street
$2,300,000
$574/SF
Building Size
4,003 SF
Asset Type
MultiFamily
Closing
Oct 5, 2023
About this deal
AI
A multifamily property located at 40 Cherry Street in Somerville, MA, was sold for $2.3 million. The property has a total area of 4,003 square feet, with a price per square foot of $575.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,300,000
- Address: 40 Cherry Street, Somerville, MA
- Market: Somerville, MA
- Buyer's Representative: Mo Zadeh - Media Realty
- Seller's Representative: Charles Ball - Berkshire Hathaway HomeServices
The transaction involved Media Realty representing the buyer, Mo Zadeh, and Berkshire Hathaway HomeServices serving as the seller's representative, Charles Ball. Both parties worked together to facilitate the sale of this multifamily property.
On the Map
$2,300,000
$574/SF
MultiFamily
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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
6.90%
Cash-on-Cash
-1.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93