Updated Oct 28, 2024
Westview Partners Acquires Multifamily Property In Somerville, MA For $15.9M
400 Mystic Ave, Somerville, MA 02145
$15,900,000
$499/SF
Building Size
31,820 SF
Asset Type
MultiFamily
Closing
Dec 14, 2021
About this deal
AI
A multifamily property located at 400 Mystic Avenue in Somerville, MA, has been sold for a total of $15,900,000. The property consists of 27 units, resulting in a price per unit of $588,889. The sale was finalized on 12/14/2021.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $15,900,000
- Address: 400 Mystic Avenue, Somerville, MA
- Market: Somerville, MA
- Buyer: Westview Partners
- Seller: Cedarwood Development
- Brokers: Chris Sower, John Flaherty, Jon Bryant, Bruce Lusa & Kevin Jones - Cushman & Wakefield
The transaction involved Westview Partners as the buyer and Cedarwood Development as the seller. The deal was facilitated by brokers Chris Sower, John Flaherty, Jon Bryant, Bruce Lusa, and Kevin Jones from Cushman & Wakefield.
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
1.00%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93