One Beacon, 6.41% cap rate with rental upside, is a turn-key asset exceptionally located in Somerville’s Inman Square neighborhood on the Cambridge border. The Property contains six units consisting of (4) 4-Bedroom/2-Bathroom units and two commercial units. The Property is fully leased and has undergone extensive interior unit renovations featuring condo quality finishes in the residential units including new kitchens with custom cabinets, quartz counter tops and stainless-steel appliances, updated bathrooms with new tile flooring and high-end fixtures, vinyl plank floors as well as new forced hot air and central air-conditioning systems and Navien tankless hot water systems. The commercial tenant, Trina’s Starlite Lounge and Parlor Sports (both leased by one tenant), recently extended their lease for 5-years (through August 31, 2029) and reimburse their pro-rata share of Real Estate Taxes, Insurance and Utilities. Common laundry for tenants is located on the 2nd and 3rd floor.
Property Details
Price:
$4,600,000
MLS #:
73226159
Status:
Active
Beds:
16
Baths:
8
Address:
1 Beacon St
Type:
Multi Family
Subtype:
5-9 Family
City:
Somerville
Listed Date:
Apr 19, 2024
State:
MA
Finished Sq Ft:
6,812
ZIP:
02143
Lot Size:
5,662 sqft / 0.13 acres (approx)
Year Built:
1900
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Schools
Interior
Appliances
Washer, Dryer
Bathrooms
8 Full Bathrooms
Cooling
Central Air
Heating
Forced Air
Exterior
Community Features
Public Transportation, Shopping, Pool, Tennis Court(s), Park, Walk/ Jog Trails, Medical Facility, Laundromat, Highway Access, House of Worship, Private School, Public School, T- Station, University
Exterior Features
Balcony/ Deck
Parking Features
Off Street
Parking Spots
4
Roof
Rubber
Financial
Buyer Agent Compensation
2%%
Tax Year
24
Taxes
$30,909
Map
Community
- Address1 Beacon St Somerville MA
- CitySomerville
- CountyMiddlesex
- Zip Code02143
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Courtesy of Horvath & Tremblay. 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 may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
1 Beacon St
Somerville, MA
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