facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Massachusetts

/

Multifamily

/

Sale

/

23 Pearson Avenue

Ryan Mccormick Represents Buyer In $1.76M Somerville Multifamily Sale
SOLDMultiFamily

Ryan Mccormick Represents Buyer In $1.76M Somerville Multifamily Sale

23 Pearson Avenue

$1,766,000

Building Size

Asset Type

MultiFamily

Closing

Jun 17, 2024

AI

23 Pearson Ave in Somerville, MA, sold for $1,766,000, featuring a well-maintained 3-family home with historic charm and modernized systems. Located near Davis Square and other transit options, the property offers a prime location for both owner-occupants and investors, with leases ending soon on two units and ample parking and outdoor space amenities.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,766,000
  • Units: 3
  • Price Per Unit: $588,667
  • Address: 23 Pearson Avenue
  • Market: Somerville, MA

Ryan Mccormick from Metro Realty represented the buyer in the transaction, while The Shorey Realty Group from Real Broker MA acted as the seller's representative.

Players

Ryan Mccormick

Metro Realty

Broker

$6M

vol

3 deals

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

8.98%

Cash-on-Cash

-2.57%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93