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
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