Updated Dec 4, 2024
Tsakirgis Team & Robert Downer Facilitate $3.45M Sale Of Somerville Multifamily Property
54 Bonair Street
$3,450,000
$386/SF
Building Size
8,937 SF
Asset Type
MultiFamily
Closing
May 29, 2024
About this deal
AI
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.
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
4.60%
Cash-on-Cash
-1.31%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93