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901 Broadway, Somerville, M...

Redfin Corp. Acquires 2-Unit Multifamily Property In Somerville, MA For $1.27M
SOLDMultiFamily

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

Steven Novak

Broker

$3.4M

vol

2 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

12.54%

Cash-on-Cash

-3.58%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93