About 250-256 Somerville Ave
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.
Features of 250-256 Somerville Ave
MLS® # | 73222468 |
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Price | $8,400,000 |
Bedrooms | 24 |
Bathrooms | 12.00 |
Full Baths | 12 |
Square Footage | 13,543 |
Acres | 0.28 |
Year Built | 1910 |
Type | Residential Income |
Sub-Type | 5-9 Family |
Status | Active |
Community Information
Address | 250-256 Somerville Ave |
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Area | Union Square |
City | Somerville |
County | Middlesex |
State | MA |
Zip Code | 02143 |
Amenities
Parking Spaces | 12 |
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Parking | Paved Drive, Off Street, Assigned, Driveway |
Is Waterfront | No |
Has Pool | No |
Interior
Fireplace | No |
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# of Stories | 3 |
Additional Information
Zoning | Res |
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Listing Details
Agent | William Senne |
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Office | Senne |
Buyer Agent Compensation | 2.0% |
Buyer Agent Compensation Type | % |
Facilitator Compensation | 2.0% |
Facilitator Compensation Type | % |
Compensation Based On | Net Sale Price |
Sub Agency Relationship Offered | No |