Charles Pagliarulo Of Re/Max Represents Buyer In $1.525M Sale Of Somerville Multifamily Property
98 Josephine Avenue
$1,525,000
$448/SF
Building Size
3,404 SF
Asset Type
MultiFamily
Closing
Jul 24, 2024
AI
A three-family home at 98 Josephine Avenue in Somerville, MA, sold for $1.525 million. The property spans 3,404 sq. ft. and features three units, positioning it attractively for both investors and residents, especially due to its proximity to Tufts University and Ball Square.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,525,000
- Units: 3
- Price Per Unit: $508,333
- Square Footage: 3,404
- Price Per Square Foot: $448
Charles Pagliarulo from Re/Max represented the buyer in this transaction, while Sven Andersen from Keller Williamsrepresented the seller, facilitating the details of the sale.
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
10.40%
Cash-on-Cash
-2.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93