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55 Gorham Street

Updated Dec 4, 2024

Berkshire Hathaway HomeServices Acquires 55 Gorham Street Multifamily In Somerville, MA For $1.9M
SOLDMultiFamily

Berkshire Hathaway HomeServices Acquires 55 Gorham Street Multifamily In Somerville, MA For $1.9M

55 Gorham Street

$1,905,000

$516/SF

Building Size

3,687 SF

Asset Type

MultiFamily

Closing

Oct 31, 2023

About this deal

AI

A multifamily property located at 55 Gorham Street in Somerville, MA was recently sold for a price of $1,905,000. The property spans 3,687 square feet, resulting in a price per square foot of $517.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $1,905,000
  • Address: 55 Gorham Street, Somerville, MA
  • Square Footage: 3,687
  • Price per Square Foot: $517

The deal was facilitated by Charles Ball of Berkshire Hathaway HomeServices Commonwealth Real Estate. He represented the transaction, ensuring the successful sale of the property.

Players

Charles Ball

Berkshire Hathaway HomeServices

Broker

$11.8M

vol

7 deals

Broker

Somerville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $516 per square foot on a published $1.9M for 3,687 square feet (2023).

Visit Charles Ball to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.33%

Cash-on-Cash

-2.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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