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49-51 Perry Street, Somervi...

Marcus & Millichap Sells Multifamily Property In Somerville For $1.835M
SOLDMultiFamily

Marcus & Millichap Sells Multifamily Property In Somerville For $1.835M

49-51 Perry Street, Somerville, MA, USA

$1,835,000

$320/SF

Building Size

5,732 SF

Asset Type

MultiFamily

Closing

Jan 5, 2020

AI

Located at 49-51 Perry Street in Somerville, this multifamily property was recently sold on January 6, 2020. The property spans 5,732 square feet and was sold for a price of $1,835,000, resulting in a price per square foot of $320.13. The transaction was facilitated by brokers Harry Verenis and Matt Pierce from Marcus & Millichap.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,835,000
  • Square Footage: 5,732
  • Price Per Square Foot: $320.13
  • Address: 49-51 Perry Street, Somerville

Harry Verenis and Matt Pierce from Marcus & Millichap played crucial roles as the brokers in this sale. They effectively represented the parties involved in this transaction, aiding in its successful completion.

Players

Harry Verenis

Grove Property Group

Broker

$29.6M

vol

11 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

8.64%

Cash-on-Cash

-2.47%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93