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7 Pearl Street

Lin Xu Of Dream Realty Brokers $1.6M Sale Of Somerville Multifamily
SOLDMultiFamily

Lin Xu Of Dream Realty Brokers $1.6M Sale Of Somerville Multifamily

7 Pearl Street

$1,600,000

$389/SF

Building Size

4,110 SF

Asset Type

MultiFamily

Closing

Apr 22, 2024

AI

A three-family home in Sullivan Square, Somerville, sold for $1,600,000, featuring three large identical units with two bedrooms and one bath each, and potential for further customization with separate living and dining areas. The property is located at 7 Pearl Street in Somerville, MA, has a total of 4,110 square feet, and was sold at a price of $533,333 per unit, with a price per square foot of $389.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,600,000
  • Units: 3
  • Price Per Unit: $533,333
  • Square Footage: 4,110
  • Price Per Square Foot: $389
  • Address: 7 Pearl Street, Somerville, MA
  • Market: Somerville, MA

The buyer's representative in this deal was Lin Xu from Dream Realty, while the seller's representative was Rivard Pierre from J. R. Pierre Real Estate.

Players

Lin Xu

Dream Realty

Broker

$11.1M

vol

7 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

9.91%

Cash-on-Cash

-2.83%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93