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Tuyen Dinh Hoang & Lan Hoang Ho Acquire 13-Unit Multifamily In Somerville For $3.9M

Property Image
SOLD
$3,900,000
Jon Bryant
John Flaherty
+ 3

Massachusetts

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MultiFamily8,688 SF
Sold 12/15/2020
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Property Image
SOLD

Tuyen Dinh Hoang & Lan Hoang Ho Acquire 13-Unit Multifamily In Somerville For $3.9M

76-78 Perkins Street, Somerville, MA, USA

See Similar Deals
MultiFamily8,688 SF
Sold 12/15/2020
Jon Bryant
John Flaherty
+ 3
Contact now

Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$448
Total Square Footage:8,688 SF
Transaction Type:Sale

Located at 76-78 Perkins Street in Somerville, MA, this recently sold multifamily property has attracted significant attention in the market. The property consists of 13 units spanning across a total of 8,688 square feet, offering ample living space for its residents. The sale price for this transaction was recorded at $3,900,000, with a price per square foot of $448. The seller, Matt Morgan of Torrington Properties, successfully closed the deal with the buyer, Tuyen Dinh Hoang and Lan Hoang Ho.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $3,900,000
  • Address: 76-78 Perkins Street, Somerville, MA
  • Market: Somerville, MA
  • Asking Price: $4,250,000
  • Square Footage: 8,688
  • Units: 13
  • Seller: Matt Morgan – Torrington Properties
  • Buyer: Tuyen Dinh Hoang & Lan Hoang Ho

The successful completion of this transaction was made possible by the efforts of Colliers International's team of brokers, Chris Sower, Jon Bryant, Maggie Collins, Bruce Lusa, and John Flaherty. Their expertise and market knowledge played a crucial role in facilitating the deal between the seller and the buyer. The transaction presented an opportunity for both parties to achieve their respective goals, and the involvement of these experienced brokers ensured a smooth and efficient process.

Players

Bruce Lusa
62 deals$899.9M volume(617) 448-6308
BROKER

John Flaherty
JLL
56 deals$797.1M volume(617) 997-1557
BROKER

Jon Bryant
JLL
57 deals$804.6M volume(508) 505-0832
BROKER

Christopher Sower
Cushman & Wakefield
79 deals$1B volume
BROKER

Maggie Collins
Colliers
2 deals$18.9M volume
BROKER

Details

SOLD
IMAGE: Chris Sower, Jon Bryant, Maggie Collins, Bruce Lusa, & John Flaherty DATE: 12/15/020 ADDRESS: 76-78 Perkins Street MARKET: Somerville, MA ASSET TYPE: Multifamily SELLER: Matt Morgan – Torrington Properties BUYER: Tuyen Dinh Hoang & Lan Hoang Ho BROKERS: Chris Sower, Jon Bryant, Maggie Collins, Bruce Lusa & John Flaherty – Colliers International ASKING PRICE: $4,250,000 SALE PRICE: $3,900,000 SF: 8,688 ~ PPSF: $448 UNITS: 13 ~ PPU: $300,000

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$208,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$13,855.87
Cash-on-Cash Return-1.27%
Monthly Debt Service$18,487.99
Annual Debt Service$221,855.88