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53 Lowden Avenue

Brody, Murphy, Novak Group Acquires Multifamily Building In Somerville, MA For $1.5M
SOLDMultiFamily

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

Joe Duggan

Trinity Real Estate

Broker

$1.5M

vol

1 deal

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

10.58%

Cash-on-Cash

-3.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93