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Tsakirgis Team & Robert Downer Facilitate $3.45M Sale Of Somerville Multifamily Property
SOLD
$3,450,000
Massachusetts
See Similar DealsMultiFamily8,937 SF
Sold 05/29/2024
SOLD
Tsakirgis Team & Robert Downer Facilitate $3.45M Sale Of Somerville Multifamily Property
54 Bonair Street
See Similar DealsMultiFamily8,937 SF
Sold 05/29/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$386
Total Square Footage:8,937 SF
Transaction Type:Sale
A multifamily property located at 54 Bonair Street in Somerville, MA, was sold for $3.45 million. The transaction was facilitated by the Tsakirgis Team of Re/max representing the buyer and Robert Downer of R.E.D. Development & Real Estate Group representing the seller. The property spans 8,937 square feet with a price per square foot of $386.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,450,000
- Address: 54 Bonair Street
- Market: Somerville, MA
- Buyer's Rep: Tsakirgis Team - Re/max
- Seller's Rep: Robert Downer - R.E.D. Development & Real Estate Group
The Tsakirgis Team of Re/max represented the buyer in the deal, while Robert Downer of R.E.D. Development & Real Estate Group represented the seller, ensuring a successful transaction for both parties involved in the sale.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$184,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$12,257.11
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,354.76
Annual Debt Service$196,257.12
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