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Derek Greene & David Ladner Handle $1.3M Multifamily Sale In Somerville, MA

Property Image
SOLD
$1,300,000
David Ladner
Derek Greene

Massachusetts

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MultiFamily2,184 SF
Sold 06/24/2024
the dealplayerscompscontact
Property Image
SOLD

Derek Greene & David Ladner Handle $1.3M Multifamily Sale In Somerville, MA

69 Boston Avenue

See Similar Deals
MultiFamily2,184 SF
Sold 06/24/2024
David Ladner
Derek Greene
the dealplayerscompscontact
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$595
Total Square Footage:2,184 SF
Transaction Type:Sale

A well-maintained 2-family home at 69 Boston Ave., Somerville, sold for $1.3 million, offering a prime opportunity for owner-occupants, investors, or condo conversion. The property consists of 2 units with a total square footage of 2,184 and a price per unit of $650,000 at $595 per square foot.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,300,000
  • Units: 2
  • Square Footage: 2,184
  • Price per Unit: $650,000
  • Price per Square Foot: $595
  • Address: 69 Boston Avenue, Somerville, MA
  • Buyer's Rep: Derek Greene - The Greene Realty Group
  • Seller's Rep: David Ladner - Re/Max

Derek Greene from The Greene Realty Group represented the buyer in this transaction, while David Ladner from Re/Max represented the seller. The deal closed on June 24, 2024, marking a successful sale of this multifamily property in Somerville, MA.

Players

David Ladner
Re/Max
David Ladner
4 deals$4.7M volume
BROKER
Derek Greene
The Greene Realty Group
Derek Greene
3 deals$5.2M volume(860) 560-1006
BROKER

Details

SOLD
IMAGE: Derek Greene & David Ladner DATE: 06/24/2024 ADDRESS: 69 Boston Avenue MARKET: Somerville, MA ASSET TYPE: Multifamily BUYER'S REP: Derek Greene - The Greene Realty Group SELLER'S REP: David Ladner - Re/Max (@Remax) SALE PRICE: $1,300,000 UNITS: 2 ~ PPU: $650,000 SF: 2,184 ~ PPSF: $595 NOTE: A well-maintained 2-family home at 69 Boston Ave., Somerville, sold for $1.3 million, offering a prime opportunity for owner-occupants, investors, or condo conversion.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$69,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$4,618.64
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,162.66
Annual Debt Service$73,951.96