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.
Property Details
Price:
$8,888,000
MLS #:
73222468
Status:
Active Under Contract
Beds:
24
Baths:
12
Address:
250-256 Ave Somerville
Type:
Multi Family
Subtype:
5-9 Family
City:
Somerville
Listed Date:
Apr 10, 2024
State:
MA
Finished Sq Ft:
13,543
ZIP:
02143
Lot Size:
12,194 sqft / 0.28 acres (approx)
Year Built:
1910
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Schools
Interior
Bathrooms
12 Full Bathrooms
Flooring
Wood
Exterior
Community Features
Public Transportation, Shopping, Park, Walk/ Jog Trails, Medical Facility, Laundromat, Bike Path, Highway Access, House of Worship, Public School, T- Station, University
Parking Features
Paved Drive, Off Street, Assigned, Driveway
Parking Spots
12
Financial
Buyer Agent Compensation
2.0%%
Tax Year
2024
Taxes
$37,178
Map
Community
- Address250-256 Ave Somerville Somerville MA
- CitySomerville
- CountyMiddlesex
- Zip Code02143
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Courtesy of Senné. 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.
250-256 Ave Somerville
Somerville, MA
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