Redfin Corp. Acquires 2-Unit Multifamily Property In Somerville, MA For $1.27M
901 Broadway, Somerville, Massachusetts, USA
$1,265,000
$395/SF
Building Size
3,198 SF
Asset Type
MultiFamily
Closing
Jan 26, 2021
AI
A multifamily property located at 901 Broadway in Somerville, MA has been sold for a total price of $1,265,000. The property consists of 2 units with a price per unit of $632,500. The total square footage of the property is 3,198, with a price per square foot of $396.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,265,000
- Units: 2
- Price per Unit: $632,500
- Square Footage: 3,198
- Price per Square Foot: $396
- Address: 901 Broadway, Somerville, MA
- Market: Somerville, MA
The seller's representative in the deal was Borislav Kusturic from Coldwell Banker Realty Cambridge, while the buyer's representative was Steven Novak from Redfin Corp.
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
12.54%
Cash-on-Cash
-3.58%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93