Updated Dec 4, 2024
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
About this deal
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.
On the Map
$1,116,000
$505/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
14.21%
Cash-on-Cash
-4.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93