Updated Dec 18, 2023
Christina Margiotta - Cameron Real Estate Group Acquires Multifamily Property In Somerville, MA For $1M
48 Summer Street, Somerville, MA, USA
$1,000,000
$427/SF
Building Size
2,342 SF
Asset Type
MultiFamily
Closing
Nov 30, 2021
About this deal
AI
The multifamily property located at 48 Summer St in Somerville, MA has been sold for a price of $1,000,000. This property consists of 2 units, with a price per unit (PPU) of $500,000. The total square footage of the property is 2,342, resulting in a price per square foot (PPSF) of $427.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,000,000
- Units: 2
- Price Per Unit (PPU): $500,000
- Square Footage: 2,342
- Price Per Square Foot (PPSF): $427
The buyer's representative in this transaction was Christina Margiotta from Cameron Real Estate Group, while the seller's representative was Jenna Lovely from Merry Fox Realty.
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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93