$8,888,000
250-256 Somerville Ave, Somerville, MA
24
Beds
12
Baths
13,543
Square feet
0.28
Acres
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.
Facts & Features
| MLS® # | 73222468 |
|---|---|
| Price | $8,888,000 |
| Bedrooms | 24 |
| Bathrooms | 12.00 |
| Full Baths | 12 |
| Square Footage | 13,543 |
| Acres | 0.28 |
| Year Built | 1910 |
| Type | Residential Income |
| Sub-Type | 5-9 Family |
| Status | Active |
| Taxes | $37,178 |
| Tax Year | 2024 |
Community Information
| Address | 250-256 Somerville Ave |
|---|---|
| Area | Union Square |
| City | Somerville |
| County | Middlesex |
| State | MA |
| Zip Code | 02143 |
Amenities
| Parking Spaces | 12 |
|---|---|
| Parking | Paved Drive, Off Street, Assigned, Driveway |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Fireplace | No |
|---|---|
| # of Stories | 3 |
| Basement | Yes |
| Basement Features | Full |
Exterior
| Foundation | Concrete Perimeter, Brick/Mortar |
|---|
Additional Information
| Zoning | Res |
|---|---|
| Condo Fees | $0 |
| Units In Complex | 12 |
| Flooring | Wood |
| Road Type | Public |
| Water | Public |
| Sewer | Public Sewer |
Listing Details
| Agent | William Senne |
|---|---|
| Office | Senne |
| Buyer Agent Compensation | 2.0% |
| Buyer Agent Compensation Type | % |
| Facilitator Compensation | 2.0% |
| Facilitator Compensation Type | % |
| Compensation Based On | Net Sale Price |
| Sub Agency Relationship Offered | No |