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62 Newton Street

Compass Acquires Multifamily Property In Somerville, MA For $1.02M
SOLDMultiFamily

Compass Acquires Multifamily Property In Somerville, MA For $1.02M

62 Newton Street

$1,020,000

$510/SF

Building Size

1,998 SF

Asset Type

MultiFamily

Closing

May 4, 2021

AI

A multifamily property located at 62 Newton St in Somerville, MA was recently sold for $1,020,000. The property spans 1,998 square feet, resulting in a price per square foot of $511.

Summary of Transaction Details

  • Property Type: Multifamily
  • Transaction Amount: $1,020,000
  • Address: 62 Newton St, Somerville, MA
  • Market: Somerville, MA

Liliana Delgado from Cameron Real Estate Group represented the seller in the transaction, while Mike Cohen from Compass acted as the buyer's representative.

Players

Mike Cohen

Compass

Broker

$128.1M

vol

12 deals

Broker

Melbourne 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

15.55%

Cash-on-Cash

-4.44%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93