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75 Thurston Street

Chris Young, Maggie Currier & Spencer Lane Acquire Multifamily In Somerville For $1.4M
SOLDMultiFamily

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:

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

Chris Young

Compass

Broker

$21.5M

vol

29 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

11.33%

Cash-on-Cash

-3.24%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93