Views
Address
250-256 Somerville Ave, Somerville, MA
Price
$ 8,888,000
Property Attributes
- MLS#73222468
- TypeContingent
- CountyMIDDLESEX
- CitySomerville
- AreaUnion Square
- Zip02143
- Style5-9 Family
- Year Built1910
- Taxes$ 37178
- Price$ 8,888,000
- Bedrooms24
- Full Bathrooms12
- Half Bathrooms0
- Sqr Footage13543
- Lot Size12,197 SqFt
Data Source:
Massachusetts MLS Property Info Network (MLSPIN)
Property Description
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.
| Price History | |
|---|---|
| 4/10/2024 | Listed $8,888,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Zoning | Res |
| Year Built | 1910 |
| View | City View(s) |
| Property SubType | 5-9 Family |
| Tax Year | 2024 |
| Gross Income | 580000 |
| Community Features | Public Transportation,Shopping,Park,Walk/Jog Trails,Medical Facility,Laundromat,Bike Path,Highway Access,House of Worship,Public School,T-Station,University |
| County | Middlesex |
| Net Operating Income | 520000 |
| Operating Expense | 60000 |
| Property Type | Residential Income |
| Contingency | Pending P&S |
| Garage Y/N | No |
| Total Rooms | 48 |
| Status | Contingent |
| Directions | Prospect Street to Somerville Avenue |
| City | Somerville |
| Disclosures | Revenue Expense Data is estimate based on pro forma. The principal broker has an interest in the property. |
| View Y/N | Yes |
| Senior Community Y/N | No |
| Total Units | 12 |
| MLS Area | Union Square |
| Lot Size Square Feet | 12194 |
| Waterfront Y/N | No |
| Street Name | Somerville Ave |
| Year Built Details | Approximate |
| Tax Annual Amount | 37178 |
| Home Warranty Y/N | No |
| Building Area Units | Square Feet |
| Standard Status | Active Under Contract |
| Year Built Source | Public Records |
| Tax Assessed Value | 3534000 |
| Total Actual Rent | 5150 |
| Compensation Based On | Net Sale Price |
| Sub-Agency Relationship Offered | No |
Interior Features
| Basement | Full |
|---|---|
| Flooring | Wood |
| Total Stories | 3 |
| Fireplace Y/N | No |
| Full Baths | 12 |
| Total Bedrooms | 24 |
| Total Baths | 12 |
Exterior Features
| Parking Features | Paved Drive,Off Street,Assigned,Driveway |
|---|---|
| Water Source | Public |
| Total Parking | 12 |
| Lot Size Area | 0.28 |
| Foundation Details | Concrete Perimeter,Brick/Mortar |
| Spa | No |
| Building Area Total | 13543 |
| Lot Size Acres | 0.28 |
| Lot Size Units | Acres |
| Road Frontage Type | Public |
| Open Parking Y/N | Yes |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Contingent Average in 02143
Price
Taxes
Visits
Year Built
Massachusetts MLS Property Info Network (MLSPIN) - The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and
