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26 Pearl Street

Yueji Hall Of Blue Ocean Property Management Represents Buyer In $2.2M Somerville Multifamily Sale
SOLDMultiFamily

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:

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

Yueji Hall

Blue Ocean Property Management

Broker

$11.3M

vol

7 deals

Broker

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