Brody, Murphy, Novak Group Acquires Multifamily Building In Somerville, MA For $1.5M
53 Lowden Avenue
$1,500,000
$462/SF
Building Size
3,244 SF
Asset Type
MultiFamily
Closing
May 31, 2024
AI
Located at 53 Lowden Avenue in Somerville, MA, this multifamily property was recently sold for $1,500,000. The property offers 5 beds, 3 baths, and spans 3,244 square feet, making it a rare 3-family opportunity in Ball Square.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,500,000
- Address: 53 Lowden Avenue
- Market: Somerville, MA
- Price Per Square Foot: $462
- Buyer's Representative: Brody, Murphy, Novak Group - Douglas Elliman Real Estate
- Seller's Representative: Joe Duggan - Trinity Real Estate
The transaction was facilitated by Douglas Elliman Real Estate representing the buyers while Trinity Real Estate represented the sellers, ensuring a successful completion of this notable deal.
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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93