Yueji Hall Of Blue Ocean Property Management Represents Buyer In $2.2M Somerville Multifamily Sale
26 Pearl Street
$2,200,000
$419/SF
Building Size
5,250 SF
Asset Type
MultiFamily
Closing
Jul 26, 2024
AI
The multifamily property located at 26 Pearl Street in Somerville, MA sold for $2,200,000. This well-maintained 6-unit building spans 5,250 square feet and is situated on a private lot near Sullivan Station. The asset consists of a mix of two- and one-bedroom units, each featuring a walk-in pantry and private deck. The property was sold "As Is" from an estate sale and had been owned by the same family for over 50 years.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,200,000
- Units: 6
- Price Per Unit: $366,667
- Square Footage: 5,250
- Price Per Square Foot: $419
- Buyer's Representative: Yueji Hall - Blue Ocean Property Management
- Seller's Representative: William W. Brennan - Greater Metropolitan Real Estate
The transaction involved representatives from both sides. Yueji Hall represented the buyer through Blue Ocean Property Management, while William W. Brennan acted as the seller's representative from Greater Metropolitan Real Estate.
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
7.21%
Cash-on-Cash
-2.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93