Kristin Weekley Of Leading Edge Real Estate Represents Buyer In 1.5M Multifamily Sale In Somerville
116 Pearson Avenue
$1,500,000
$462/SF
Building Size
3,247 SF
Asset Type
MultiFamily
Closing
Sep 4, 2024
AI
A multifamily home located at 116 Pearson Avenue in Somerville, MA sold for $1,500,000. The property comprises 3,247 square feet of living space and is situated on a 4,602 square foot lot. Built in 1920, the home features hardwood floors, spacious bedrooms, and updated windows and roof, with convenient access to dining and public transport.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,500,000
- Units: 2
- Price Per Unit: $750,000
- Square Footage: 3,247
- Price Per Square Foot: $462
- Buyer's Representative: Kristin Weekley - Leading Edge Real Estate
- Seller's Representative: Michael Nastri - Symmetry Realty
Kristin Weekley represented the buyer in this transaction while Michael Nastri represented the seller. Both representatives played key roles in facilitating the sale of the property in the Somerville market.
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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93