Somerville Multifamily Property Sells for $1.38 Million

The sale of a multifamily property in Somerville, MA for $1.38 million.

By on Dec 2, 2021
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Somerville Multifamily Property Sells for $1.38 Million

A multifamily property located at 8 Putnam Road in Somerville, MA has sold for 1.38 million. The property, which spans 3,689 square feet, was sold by an undisclosed seller and represented by Charles Ingala. The sale price equates to a price per square foot of 374.

The property is located in a desirable area of Somerville, which has seen significant growth in recent years. The city is home to a number of universities and tech companies, which has led to an influx of young professionals and students. The property is also located near public transportation, making it an attractive option for commuters.

The buyer of the property has not been disclosed, but it is likely that they were attracted to the property’s location and potential for rental income. The property is currently configured as a multifamily dwelling, but there may be potential to convert it into condos or to add additional units.

Overall, the sale of this property is indicative of the strong demand for multifamily properties in desirable areas. With interest rates remaining low and the economy continuing to recover, it is likely that we will continue to see strong demand for properties like this in the coming months and years.