Chris Young, Maggie Currier & Spencer Lane Acquire Multifamily In Somerville For $1.4M
75 Thurston Street
$1,399,900
$441/SF
Building Size
3,169 SF
Asset Type
MultiFamily
Closing
Jun 3, 2024
AI
Located at 75 Thurston St in Somerville, MA 02145, the multifamily property was sold for $1,399,900. This 3-level 2-family home features 99 beds, 2.5 baths, and spans 3,169 sq ft. The property presents a valuable opportunity for investors, developers, or owner-occupants due to its potential for redevelopment or renovation in a neighborhood with improving amenities.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,399,900
- Square Footage: 3,169
- Price Per Square Foot: $442
- Market: Somerville, MA
- Buyer's Rep: Chris Young, Maggie Currier & Spencer Lane - Compass
- Seller's Rep: Dennis Razis - Re/Max
The individuals involved in the transaction are Chris Young, Maggie Currier, Spencer Lane representing the buyers from Compass, and Dennis Razis representing the sellers from Re/Max. This deal highlights the collaboration between these professionals in facilitating the successful sale of the multifamily property.
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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93