119 College Avenue - Somerville, MASomerville, MA NAI Hunneman brokered the $13.335 million sale of a 41-unit multifamily property located at 119 College Ave. in the Davis Sq. neighborhood of the city.
Executive vice president/principal Robert Tito, assisted by sales associate Gina Barroso represented the seller Powderhouse Realty Corp. and procured the buyer Sandtail LLC.
“It’s rare to find a value opportunity like this in such a sought after multifamily market like Somerville,” said Tito. “119 College Ave. is a legacy asset, owned by the same family for over 50 years. The property was meticulously maintained and has tremendous upside making it a real win for the new owners who were looking to strengthen their local portfolio.”
Located in walking distance to Powderhouse & Davis Sq. along with easy access to both highways and public transportation, 119 College Ave. is a 4-story brick, garden style apartment building. Originally constructed in 1927, and well maintained by the same ownership for 50-years, the building offers a total of 41 units consisting of eleven studios, 23 one-bedroom, and 7 two-bedroom units.
Headquartered in Boston, NAI Hunneman is a leading provider of commercial real estate services to corporations, institutions and the private market. NAI Hunneman is a member NAI Global, the premier network of independent commercial real estate firms and one of the largest commercial real estate service providers worldwide. NAI Global manages a network of 6,700 professionals and 375 offices throughout the world. NAI professionals work together with its global management team to help clients strategically optimize their real estate assets.