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Patti Reilly & Scarlett Tamburro Complete $1.7M Multifamily Sale In Somerville, MA

Property Image
SOLD
$1,705,000

Massachusetts

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MultiFamily3,101 SF
Sold 04/01/2024
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Property Image
SOLD

Patti Reilly & Scarlett Tamburro Complete $1.7M Multifamily Sale In Somerville, MA

89 Bromfield Road

See Similar Deals
MultiFamily3,101 SF
Sold 04/01/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$549
Total Square Footage:3,101 SF
Transaction Type:Sale

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:

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

Scarlett Tamburro
4 deals$6.7M volume(617) 855-8314
BROKER

Patricia (Patti) Reilly
Re/Max
1 deal$1.7M volume(617) 285-2327
BROKER

Details

SOLD
IMAGE: Scarlett Tamburro & Patti Reilly DATE: 04/01/2024 ADDRESS: 89 Bromfield Road MARKET: Somerville, MA ASSET TYPE: Multifamily BUYER'S REP: Patti Reilly (@PattiReillyRE) - ReMax Destiny (@DestinyAgents) SELLER'S REP: Scarlett Tamburro (@ScarlettSalesQueenBoston) - Advisors Living (@AdvisorsLiving) SALE PRICE: $1,705,000 UNITS: 2 ~ PPU: $852,500 SF: 3,101 ~ PPSF: $550 NOTE: 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.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$90,933.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,057.52
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,082.57
Annual Debt Service$96,990.84