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53 Fairfax Street

Casey Scholl & David Lilley Facilitate $1.116M Sale Of Somerville Multifamily
SOLDMultiFamily

Casey Scholl & David Lilley Facilitate $1.116M Sale Of Somerville Multifamily

53 Fairfax Street

$1,116,000

$505/SF

Building Size

2,208 SF

Asset Type

MultiFamily

Closing

Apr 26, 2024

AI

Located at 53 Fairfax Street in Somerville, MA, a multifamily property was recently sold for $1,116,000. Spanning 2,208 square feet, the property was transacted at a price of $505 per square foot. The buyer was represented by Casey Scholl of Coldwell Banker, while the seller was represented by David Lilley of Re/Max.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,116,000
  • Address: 53 Fairfax Street
  • Market: Somerville, MA
  • Square Footage: 2,208
  • Buyer's Rep: Casey Scholl - Coldwell Banker
  • Seller's Rep: David Lilley - Re/Max

Casey Scholl from Coldwell Banker facilitated the purchase on behalf of the buyer, while David Lilley of Re/Max represented the seller in the property sale, showcasing the professional involvement of the key individuals in ensuring the successful completion of the transaction.

Players

David Lilley

Re/Max

Broker

$34.8M

vol

14 deals

Broker

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

14.21%

Cash-on-Cash

-4.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93