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89 Bromfield Road

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

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:

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

Advisors Living

Broker

$6.7M

vol

4 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

9.30%

Cash-on-Cash

-2.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93