Patti Reilly & Scarlett Tamburro Complete $1.7M Multifamily Sale In Somerville, MA
89 Bromfield Road
$1,705,000
$549/SF
Building Size
3,101 SF
Asset Type
MultiFamily
Closing
Apr 1, 2024
AI
A meticulously maintained 2-family home at 89 Bromfield Rd, Somerville, MA 02144, sold for $1,705,000, offering classic charm and modern convenience with recent updates such as a new roof, efficient oil heating system, and upgraded windows. The property consists of 2 units with a total area of 3,101 square feet. Each unit was sold at an average price of $852,500 per unit at a price per square foot of $550.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,705,000
- Units: 2
- Price per Unit: $852,500
- Square Footage: 3,101
- Price per Square Foot: $550
- Market: Somerville, MA
- Buyer's Rep: Patti Reilly - ReMax Destiny
- Seller's Rep: Scarlett Tamburro - Advisors Living
The deal was facilitated by Patti Reilly from ReMax Destiny, representing the buyer, and Scarlett Tamburro from Advisors Living, representing the seller. Both parties played integral roles in the successful transaction, ensuring a smooth process for the sale of the 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
9.30%
Cash-on-Cash
-2.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93