Updated Dec 4, 2024
Denman Drapkin Group Of Compass Represents Buyer In $1.18M Multifamily Sale In Somerville MA
7-9 Wyatt Circle
$1,180,000
$523/SF
Building Size
2,254 SF
Asset Type
MultiFamily
Closing
Aug 8, 2024
About this deal
AI
The property asset involved in the transaction is a duplex located at 7-9 Wyatt Circle in Somerville, MA. The asset is categorized as a MultiFamily property, comprising 2 units with a sale price of $1,180,000. Each unit has an average price per unit of $590,000. The total square footage of the property is 2,254 sq ft, resulting in a price per square foot of $524. The duplex features 6 bedrooms, 2 bathrooms, newer utilities, thermopane windows, and separate laundry facilities for each unit.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $1,180,000
- Address: 7-9 Wyatt Circle
- Market: Somerville, MA
- Units: 2
- Price Per Unit: $590,000
- Square Footage: 2,254
- Price Per Square Foot: $524
- Buyer's Representative: Denman Drapkin Group - Compass
- Seller's Representative: John Beauvais - R. S. B. Realty
The deal features representation from Denman Drapkin Group under Compass for the buyer's side, while John Beauvais of R. S. B. Realty represents the seller. This transaction is indicative of market activity in Somerville, reflecting the involvement of experienced agents in this property transfer.
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
13.44%
Cash-on-Cash
-3.84%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93