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7 Simpson Avenue

Gambrel-Style Multifamily Home Sold In Somerville, MA For $1.8M
SOLDMultiFamily

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

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

Mike Cohen

Compass

Broker

$128.1M

vol

12 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

8.81%

Cash-on-Cash

-2.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93