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.
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