250-256 Somerville Avenue, Union SquareSomerville, MA 02143MLS Number 73222468

  • Price: $8,400,000
  • Est. Mortgage of $/month
  • 46 Days on Market
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Federal 30-year interest rate: 6.94% last updated on May 23, 2024
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
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250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143250-256 Somerville Avenue Somerville MA 02143
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  • 24Bedrooms
  • 0.28Acreage
  • 12Bathrooms
  • 1910Year Built
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.
Listed by William Senne of Senne

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Colonial Manor Realty
Colonial Manor Realty
Office: 781-844-9371
127 Franklin St
Reading, MA 01867

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More Info

Basic Information

  • Gross Income $580,000
  • Mls StatusActive

Rooms

  • Bathroom12
  • Bathrooms Total Decimal 12
  • Bedrooms24
  • Full Bath12

Building

  • BasementFull
  • Building Area Units Square Feet
  • FoundationConcrete Perimeter, Brick/Mortar
  • Rooms48
  • Stories3
  • Units12
  • Year Built1910
  • Year Built Details Approximate
  • Year Built Source Public Records

Other

  • Buyer Agency Compensation2.0%
  • Date Listed04/10/2024
  • Farm Land Area Units Square Feet
  • Transaction Broker Compensation2.0%
  • View Count6

Tax Information

  • Tax Assessed Value $3,534,000
  • Tax Year 2024
  • Taxes$37,178

Basic Information

  • List Price$8,400,000
  • MLS Number73222468
  • Modification Date05/20/2024
  • Property SubType5-9 Family

Property

  • Acreage0.28

Interior

  • Flooring Wood

Utilities

  • Sewer Public Sewer
  • Water Source Public

Amenities

  • Amenities
    • Bike Path
    • Highway Access
    • House of Worship
    • Laundromat
    • Medical Facility
    • Park
    • Public School
    • Public Transportation
    • Shopping
    • T-Station
    • University
    • Walk/Jog Trails
  • Other AmenitiesBasement

Parking

  • Open Parking YN Yes
  • Parking Features Paved Drive, Off Street, Assigned, Driveway
  • Parking Spaces12

Location

  • Address250-256 Somerville Avenue
  • Building Number250-256
  • CountyMiddlesex
  • NeighborhoodUnion Square
  • StateMA
  • StreetSomerville Avenue
  • SubdivisionUnion Square
  • TownSomerville
  • Zip02143

Property Information

  • Building Area Source Public Records
  • Living Area 13,543
  • Lot Size Square Feet 12,194
  • Lot Size Units Acres
  • Square Feet13,543
  • View YN Yes
Listed by William Senne of Senne

The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. (MLSPIN) from third party sources, including sellers, lessors and public records, and were compiled by MLSPIN. The property listing data and information, and the Images, 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. MLSPIN and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

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