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76-78 Perkins Street, Somer...

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

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

76-78 Perkins Street, Somerville, MA, USA

$3,900,000

$448/SF

Building Size

8,688 SF

Asset Type

MultiFamily

Closing

Dec 14, 2020

AI

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

Cushman & Wakefield

Broker

$899.9M

vol

62 deals

Broker

Matt Morgan

Torrington Properties

Seller

$35.4M

vol

3 deals

Seller

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

4.07%

Cash-on-Cash

-1.16%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93