Updated Dec 20, 2023
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
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
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93