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Brody, Murphy, Novak Group Acquires Multifamily Building In Somerville, MA For $1.5M
SOLD
$1,500,000
Massachusetts
See Similar DealsMultiFamily3,244 SF
Sold 05/31/2024
SOLD
Brody, Murphy, Novak Group Acquires Multifamily Building In Somerville, MA For $1.5M
53 Lowden Avenue
See Similar DealsMultiFamily3,244 SF
Sold 05/31/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$462
Total Square Footage:3,244 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$79,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,329.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,110.77
Annual Debt Service$85,329.18
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