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555-557 Somerville Ave, Som...

Berkshire Hathaway HomeServices Acquires Multifamily Property In Somerville, MA For $1.46M
SOLDMultiFamily

Berkshire Hathaway HomeServices Acquires Multifamily Property In Somerville, MA For $1.46M

555-557 Somerville Ave, Somerville, Massachusetts, USA

$1,460,000

$265/SF

Building Size

5,490 SF

Asset Type

MultiFamily

Closing

Aug 24, 2021

AI

555-557 Somerville Ave, located in Somerville, MA, has recently been sold in a multifamily transaction. The property, which spans 5,490 square feet, was sold for a total price of $1,460,000, resulting in a price per square foot of $266. The sale took place on August 24, 2021.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,460,000
  • Address: 555-557 Somerville Ave, Somerville, MA
  • Market: Somerville, MA

The seller was represented in the deal by the Gary Vrotsos Team from Coldwell Banker Realty in Cambridge. On the other side, the buyer was represented by Craig Shepherd from Berkshire Hathaway HomeServices Commonwealth Real Estate.

Players

Craig Shepherd

Berkshire Hathaway HomeServices

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

10.87%

Cash-on-Cash

-3.11%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93