Updated Sep 9, 2024
Hmw Real Estate Acquires Multifamily Property In Somerville, MA For $1M
59 Lowell Street, Somerville, Massachusetts 02143, United States
$1,000,000
$391/SF
Building Size
2,554 SF
Asset Type
MultiFamily
Closing
Dec 17, 2021
About this deal
AI
Located in Somerville, MA, the multifamily property at 59-61 Lowell St has been sold for $1,000,000. With a size of 2,554 square feet, the property was purchased at a price per square foot of $392.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,000,000
- Address: 59-61 Lowell St
- Market: Somerville, MA
The transaction was facilitated by Juan Gao of Hmw Real Estate, Llc, who represented the buyer. Jonathan Mitchell of Compass represented the seller in the deal.
The multifamily sale at 59 Lowell Street, Somerville, Massachusetts 02143, United States in Somerville, Massachusetts sold for $1M in 2021. The building is 2,554 square feet, implying about 391 per square foot on the published price. Jonathan Mitchell, Juan Gao, Compass, Charles River Properties appear on the sale alongside Compass, Charles River Properties. This page is the Somerville, Massachusetts file for the 59 Lowell Street, Somerville, Massachusetts 02143, United States multifamily sold: pricing, party profiles, and other closed multifamily comps from the same Somerville sit in the Market section below. Filter that Somerville multifamily set by closing date to see what else sold near 59 Lowell Street, Somerville, Massachusetts 02143, United States around 2021. Published consideration for 59 Lowell Street, Somerville, Massachusetts 02143, United States is $1M, dated 2021. Cite this Hmw Real Estate Acquires Multifamily Property In Somerville, MA For $1M sale when underwriting similar multifamily product around Somerville, Massachusetts.
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Somerville MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93