Updated Dec 4, 2024
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
About this deal
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.
On the Map
$1,600,000
$389/SF
MultiFamily
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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
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93