Updated Dec 4, 2024
Gambrel-Style Multifamily Home Sold In Somerville, MA For $1.8M
7 Simpson Avenue
$1,800,000
$553/SF
Building Size
3,252 SF
Asset Type
MultiFamily
Closing
Jun 25, 2024
About this deal
AI
A gambrel-style two-family home at 7 Simpson Avenue in Somerville, MA, was sold for $1.8 million. The property spans 3,252 square feet and was purchased for $900,000 per unit, with a price per square foot of $554. Situated across from a scenic park near Davis Square, this property offers a charming living space in a desirable location.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,800,000
- Units: 2
- Square Footage: 3,252
- Price per Unit: $900,000
- Price per Square Foot: $554
- Address: 7 Simpson Avenue, Somerville, MA
- Market: Somerville, MA
The buyer's representative for this transaction was Adrian Cheng from Move2boston Group, while the seller's representative was Mike Cohen from Compass. Both agents played integral roles in facilitating the sale of this two-family home, ensuring a smooth and successful transaction for their respective clients.
Players
Somerville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Deal FAQ
About $553 per square foot on a published $1.8M for 3,252 square feet (2024).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93