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116 Pearson Avenue

Kristin Weekley Of Leading Edge Real Estate Represents Buyer In 1.5M Multifamily Sale In Somerville
SOLDMultiFamily

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:

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

Michael Nastri

Symmetry Realty

Broker

$1.5M

vol

1 deal

Broker

Somerville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

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