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
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