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Chris Young, Maggie Currier & Spencer Lane Acquire Multifamily In Somerville For $1.4M
SOLD
$1,399,900
+ 1
Massachusetts
See Similar DealsMultiFamily3,169 SF
Sold 06/03/2024
SOLD
Chris Young, Maggie Currier & Spencer Lane Acquire Multifamily In Somerville For $1.4M
75 Thurston Street
See Similar DealsMultiFamily3,169 SF
Sold 06/03/2024
+ 1
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$441
Total Square Footage:3,169 SF
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$74,661.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$4,973.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$6,636.24
Annual Debt Service$79,634.88
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