Updated Dec 4, 2024
Multifamily Property In Somerville, MA Sells For $1.15M With Buyer's Rep Hanna Zhang & Seller's Rep Laurie Devereaux
61 Springfield Street
$1,150,000
$441/SF
Building Size
2,604 SF
Asset Type
MultiFamily
Closing
Nov 10, 2023
About this deal
AI
A multifamily property located at 61 Springfield Street in Somerville, MA, has been sold for $1,150,000. The property has a total square footage of 2,604 and a price per square foot of $442.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,150,000
- Address: 61 Springfield Street, Somerville, MA
- Market: Somerville, MA
The buyer's representative in this transaction was Hanna Zhang from East Coast Realty, while the seller's representative was Laurie Devereaux from Century 21 North East.
The multifamily sale at 61 Springfield Street in Somerville, Massachusetts sold for $1.2M in 2023. The building is 2,604 square feet, implying about 441 per square foot on the published price. Laurie Devereaux, Hanna Zhang, Century 21, East Coast Realty appear on the sale alongside Century 21, East Coast Realty. This page is the Somerville, Massachusetts file for the 61 Springfield Street 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 61 Springfield Street around 2023. Published consideration for 61 Springfield Street is $1.2M, dated 2023. Cite this Multifamily Property In Somerville, MA Sells For $1.15M With Buyer's Rep Hanna Zhang & Seller's Rep Laurie Devereaux sale when underwriting similar multifamily product around Somerville, Massachusetts.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
13.79%
Cash-on-Cash
-3.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93