facebook
Traded Co logo
Submit
Daily limit: 0/10

Ryan Mccormick Represents Buyer In $1.76M Somerville Multifamily Sale

Property Image
SOLD
$1,766,000

Massachusetts

See Similar Deals
MultiFamily
Sold 06/17/2024
the dealplayerscompscontact
Property Image
SOLD

Ryan Mccormick Represents Buyer In $1.76M Somerville Multifamily Sale

23 Pearson Avenue

See Similar Deals
MultiFamily
Sold 06/17/2024
the dealplayerscompscontact
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Transaction Type:Sale

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
Ryan Mccormick
3 deals$6M volume(401) 640-9275
BROKER

Details

SOLD
IMAGE: Ryan Mccormick DATE: 06/17/2024 ADDRESS: 23 Pearson Avenue MARKET: Somerville, MA ASSET TYPE: Multifamily BUYER'S REP: Ryan Mccormick - Metro Realty SELLER'S REP: The Shorey Realty Group - Real Broker MA SALE PRICE: $1,766,000 UNITS: 3 ~ PPU: $588,667 NOTE: 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.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$94,186.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$6,274.22
Cash-on-Cash Return-1.27%
Monthly Debt Service$8,371.74
Annual Debt Service$100,460.89