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69 Boston Avenue

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

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

69 Boston Avenue

$1,300,000

$595/SF

Building Size

2,184 SF

Asset Type

MultiFamily

Closing

Jun 24, 2024

AI

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

Broker

$4.7M

vol

4 deals

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

12.20%

Cash-on-Cash

-3.49%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93