Updated Dec 4, 2024
Kendin Carr Of Colliers International Facilitates Sale Of Somerville Multifamily For $5M
35 Laurel Street
$5,000,000
$432/SF
Building Size
11,561 SF
Asset Type
MultiFamily
Closing
Aug 16, 2024
About this deal
AI
This multifamily asset located at 35 Laurel Street in Somerville, MA has been sold for a price of $5,000,000. The property consists of 12 units, covering a total area of 11,561 square feet, equating to a price per unit of $416,666 and a price per square foot of $432.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,000,000
- Units: 12
- Square Footage: 11,561
- Price Per Unit: $416,666
- Price Per Square Foot: $432
The transaction was brokered by Kendin Carr from Colliers International, who represented the involvement of the parties in this transaction.
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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93