250-256 Somerville Ave Somerville, MA 02143
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 TypeMulti-Family
- NeighborhoodN/A
- CountyMiddlesex
- Taxes$37,178
- HOA/Condo/Coop Fees$0
- Days on Site22 Days
- MLS StatusActive Under Contract
- MLS ID Number73222468
- Home Size Source Public Records
- Year Built1910
- Lot Size0.28 Acres
- Full Baths12
- Partial BathsN/A
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General Features
- Parking Paved DriveOff StreetAssignedDriveway
- Parking Spaces 12
- Sewer Public Sewer
- Basement Full
- Number of Stories 3
- Acreage 0.28
- Water Public
- Property Sub Type Multi Family
- Garage Spaces 0
- Foundation Concrete PerimeterBrick/ MortarBrick/Mortar
- Zoning Res
- Buyer Agent Compensation 2.0%
- Facilitator Compensation 2.0%
- Compensation Based On Net Sale Price
- Sub-Agency Relationship Offered No
- Garage 0
- Parking Features Paved DriveOff StreetAssignedDriveway
Interior Features
- Flooring Wood
- Fireplaces 0
- Fireplace No
Exterior Features
- View City View(s)
- Spa No
- Waterfront Property No
Community Features
- Community Features Public TransportationShoppingParkWalk/ Jog TrailsMedical FacilityLaundromatBike PathHighway AccessHouse of WorshipPublic SchoolT- StationUniversityWalk/Jog TrailsT-Station
- Senior Community No
- MLS Area Union Square
- Adult Care Community No