Updated Dec 4, 2024
Hongyan Sun Of Stonebridge Realty Represents Buyer In Somerville Multifamily Sale For $1.82M
93 Marion Street
$1,820,000
$479/SF
Building Size
3,795 SF
Asset Type
MultiFamily
Closing
Aug 15, 2024
About this deal
AI
A three-unit multifamily property located at 93 Marion Street in Somerville, MA, has been sold for $1,820,000. The total square footage of the building is 3,795, with a price per square foot of $480. The property consists of two four-bedroom units and one three-bedroom unit. It features tandem parking and rear porches and is situated near rapid transit and major employers, but requires renovations.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,820,000
- Units: 3
- Price Per Unit: $606,667
- Square Footage: 3,795
- Price Per Square Foot: $480
- Buyer's Representative: Hongyan Sun - Stonebridge Realty
- Seller's Representative: Kevin Benzinger - Boston Realty Advisors
Hongyan Sun from Stonebridge Realty represented the buyer in this transaction, while Kevin Benzinger from Boston Realty Advisors represented the seller. The property was sold on August 15, 2024.
On the Map
$1,820,000
$479/SF
MultiFamily
View full map
Players
Somerville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
Loading comparables…
Deal FAQ
Visit Hongyan Sun to view all their deals.
Browse Somerville multifamily sales on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.72%
Cash-on-Cash
-2.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93