Updated Oct 21, 2026
Somerville MultiFamily Portfolio Sold For $39 Million Marking Largest Sale In 15 Years
18 Day Street, 49 Dover St, 49 Dover Street & 123 Orchard Street
$39,000,000
Units
120
Asset Type
MultiFamily
Closing
Oct 20, 2026
About this deal
AI
A multi-family apartment portfolio located at 18 Day Street, 49 Dover Street, and 123 Orchard Street in Somerville, MA, was sold for $39 million. This portfolio consists of three buildings and a total of 120 units, equating to a price per unit of $325,000. This sale reportedly marks the largest multifamily portfolio transaction in Davis Square in the past 15 years, and it was the first time this portfolio was brought to market after over a century of family ownership.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $39,000,000
- Units: 120
- Price Per Unit: $325,000
- Market: Somerville, MA
Nick Jasinski from Matthews represented the sale of this property portfolio. The identity of the buyer remains undisclosed.
On the Map
$39,000,000
MultiFamily
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Somerville MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93