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Charles Pagliarulo Of Re/Max Represents Buyer In $1.525M Sale Of Somerville Multifamily Property

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SOLD
$1,525,000

Massachusetts

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MultiFamily3,404 SF
Sold 07/24/2024
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Property Image
SOLD

Charles Pagliarulo Of Re/Max Represents Buyer In $1.525M Sale Of Somerville Multifamily Property

98 Josephine Avenue

See Similar Deals
MultiFamily3,404 SF
Sold 07/24/2024
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$448
Total Square Footage:3,404 SF
Transaction Type:Sale

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

Sven Andersen
4 deals$6.5M volume
BROKER

Charles Pagliarulo
Re/Max
3 deals$5M volume
BROKER

Details

SOLD
IMAGE: Charles Pagliarulo & Sven Andersen DATE: 07/24/2024 ADDRESS: 98 Josephine Avenue MARKET: Somerville, MA ASSET TYPE: Multifamily BUYER'S REP: Charles Pagliarulo (@CharliePags) - Re/Max SELLER'S REP: Sven Andersen - Keller Williams (@KellerWilliamsRealty) SALE PRICE: $1,525,000 UNITS: 3 ~ PPU: $508,333 SF: 3,404 ~ PPSF: $448 NOTE: A three-family home at 98 Josephine Ave., Somerville, sold for $1.525 million. Located near Tufts University and Ball Square, the 3,404 sq. ft. property offers significant appeal to both investors and residents.

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$5,418.01
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,229.28
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