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74 Morrison Avenue, Somervi...

Updated Dec 20, 2023

Redfin Corp Acquires Multifamily Property In Somerville, MA For $2.2M
SOLDMultiFamily

Redfin Corp Acquires Multifamily Property In Somerville, MA For $2.2M

74 Morrison Avenue, Somerville, Massachusetts 02144, United States

$2,200,000

$633/SF

Building Size

3,475 SF

Asset Type

MultiFamily

Closing

Jul 14, 2022

About this deal

AI

The multifamily property located at 74 Morrison Ave in Somerville, MA was recently sold. The transaction was facilitated by Andrew Junas from Redfin Corp. who represented the buyer, and Tyler Munroe from Rent Source Llc who represented the seller. The sale price for this property was $2,200,000. The property spans 3,475 square feet, resulting in a price per square foot of $633.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $2,200,000
  • Address: 74 Morrison Ave, Somerville, MA
  • Market: Somerville, MA
  • Buyer's Representative: Andrew Junas - Redfin Corp.
  • Seller's Representative: Tyler Munroe - Rent Source Llc
  • Square Footage: 3,475
  • Price per Square Foot: $633

The buyer, represented by Andrew Junas from Redfin Corp., saw the potential in this multifamily property and made the decision to purchase it. On the other side of the deal, Tyler Munroe from Rent Source Llc successfully negotiated the sale on behalf of the seller. This transaction showcases the expertise of both professionals in the real estate industry.

Players

Andrew Junas

Redfin

Broker

$3.4M

vol

2 deals

Broker

Somerville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $633 per square foot on a published $2.2M for 3,475 square feet (2022).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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