Under Contract
250-256 Somerville Ave
Somerville MA, 02143
$8,888,000
$656.28 per sqft
Under Contract
24 Beds
12 Baths
13,543 sqft
Multi-family
Built in 1910
Prime investment opportunity in bustling Union Square! This 12-unit apartment property with 16 parking spaces is a cash flowing dream property! Immediately proximate to the new Union Square train station and significant area improvements to infrastructure, commercial property, and community spaces. All apartments are presently graciously sized two bedrooms, mostly updated, several with in-unit laundry (coin-ops also in basement). The current leasing season is supporting projected gross rents of approximately $580,000. Historical operating expenses of about $65,000. Projected NOI from operations of $515,000! Projected gross rents based on units renting at $3,950 and 4 parking spaces at $300. Private showings for qualified buyers only.
73222468
MLSⓇ ID
April 10, 2024
Listed
May 1, 2024
Updated
Map
250-256 Somerville Ave
Somerville MA, 02143
Interior Features
Total Stories
3
Bedrooms
24 Beds
Bathrooms
12 Baths
Floor Description
Wood
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.28 Acres
Sewer
Public Sewer
Other Property Details
Area Name
Union Square
Taxes
$37,178
Tax Frequency
Annually
Days on Market
21
Garage
No
Parking
Paved Drive, Off Street, Assigned, Driveway
Parking Total
12
View
Yes
View Description
City View(s)
County
Middlesex
Water Source
Public
Pool
No
Zoning
Res
Buyer Agency Compensation
2.0%
Listing History
Date | Event | Price |
|---|---|---|
5/1/2024 | Under Contract | — |
Courtesy of William Senne, Senne
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Data last updated 7:07 PM UTC, 5/1/2024
