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
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