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You are here:
Home Massachusetts Somerville Multi-Family Homes for Sale

250-256 Somerville Ave Somerville, MA 02143

$8,888,000
12 Unit
24 Beds
12 Baths
13543 SQFT
0.28 Acre
250-256 Somerville Ave
Somerville, MA 02143

Property Description

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 Overview

Property Details click or tap to expand

Building Information

  • Total Units: 12
  • Total Floors: 3
  • Total Bedrooms: 24
  • Total Full Baths: 12
  • Amenities: Bike Path, Highway Access, House of Worship, Laundromat, Medical Facility, Park, Public School, Public Transportation, Shopping, T-Station, University, Walk/Jog Trails
  • Basement Features: Full

Financial

  • APOD Available: No
  • Expenses Source: Estimated, Pro. Forma Available
  • Gross Operating Income: 580000
  • Gross Expenses: 60000
  • Net Operating Income: 520000

Utilities

  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Under Lease: Yes
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Under Lease: No

Construction

  • Year Built: 1910
  • Type: 5-9 Family
  • Foundation Info: Brick, Poured Concrete
  • Flooring Type: Wood
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73222468
  • Last Updated: 05/01/24

Mortgage Calculator

View Breakdown

Seller's Representative: William Senne, Senne
Sub Agent Compensation: n/a
Buyer Agent Compensation: 2.0%
Facilitator Compensation: 2.0%
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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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.

MLS PIN data last updated at 2024-05-01 13:12:00