1 Beacon Street

Somerville, MA 02143

$4,600,000
Price
16
Beds
8
Baths
6,812 Sq. Ft.
$675 / Sq. Ft.
6,812
Sq. Ft.
$675
per Sq. Ft.

Description

One Beacon, 6.41% cap rate with rental upside, is a turn-key asset exceptionally located in Somerville’s Inman Square neighborhood on the Cambridge border. The Property contains six units consisting of (4) 4-Bedroom/2-Bathroom units and two commercial units. The Property is fully leased and has undergone extensive interior unit renovations featuring condo quality finishes in the residential units including new kitchens with custom cabinets, quartz counter tops and stainless-steel appliances, updated...One Beacon, 6.41% cap rate with rental upside, is a turn-key asset exceptionally located in Somerville’s Inman Square neighborhood on the Cambridge border. The Property contains six units consisting of (4) 4-Bedroom/2-Bathroom units and two commercial units. The Property is fully leased and has undergone extensive interior unit renovations featuring condo quality finishes in the residential units including new kitchens with custom cabinets, quartz counter tops and stainless-steel appliances, updated bathrooms with new tile flooring and high-end fixtures, vinyl plank floors as well as new forced hot air and central air-conditioning systems and Navien tankless hot water systems. The commercial tenant, Trina’s Starlite Lounge and Parlor Sports (both leased by one tenant), recently extended their lease for 5-years (through August 31, 2029) and reimburse their pro-rata share of Real Estate Taxes, Insurance and Utilities. Common laundry for tenants is located on the 2nd and 3rd floor.
  1. Listed by John Pentore • Horvath & Tremblay
  2. Listed by Dennis Kelleher • Horvath & Tremblay

Property Details for 1 Beacon Street

Town
Somerville
MLS Area
Inman Square
Area
MA-Somerville-Inman Square, MA-Somerville
Garage Spaces
0
Parking Spaces
4.00
Parking Spaces Total
4

Location

Listing Courtesy of Horvath & Tremblay, John Pentore; Horvath & Tremblay, Dennis Kelleher
Add your commute
LISTING UPDATED: 05/01/2024 02:33 PM

Property Details for 1 Beacon Street

StatusActive
MLS #73226159
Days on Market15
Taxes$30,909 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 5-9 Family
Year Built1900
CountyMiddlesex County

Location

Listing Courtesy of Horvath & Tremblay, John Pentore; Horvath & Tremblay, Dennis Kelleher
Add your commute

Building Information for 1 Beacon Street

Stories10Residences6Year Built1900Building Size-Lot Size0.13 AC / 5,662 SF

Payment Calculator

$27,680 per month

30 year fixed, 7.25% Interest

Principal and Interest

$25,104

Property Taxes

$2,576

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1 Beacon Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation, Shopping, Swimming Pool, Tennis Court, Park, Walk/Jog Trails, Medical Facility, Laundromat, Highway Access, House of Worship, Private School, Public School, T-Station, University
  • Living Area: 6812.0
  • SqFt with Basement: No
  • Total Units: 6
  • Waterfront: No
  • Year Built Details: Approximate
  • Year Built Source: Public Records
Features
Interior Features
  • Appliances: Washer, Dryer
  • Basement Features: Unfinished Basement
  • Num of Baths: 8.0
  • Num of Full Baths: 8
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 8.00
  • Bathrooms Total Integer: 8
  • FireplaceYN: No
  • Fireplaces: 0
  • SpaYN: No
Exterior Features
  • Exterior Features: Balcony/Deck
  • Exterior Features: Deck
  • Lot Description: Corner Lot
  • Patio And Porch Features: Deck
  • Roof Material: Rubber
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Garage Parking: Off-Street
  • Parking Features: Off-Street
  • Parking Features: Off-Street
Utilities
  • Cooling: Central Air
  • Cooling: Yes
  • Electric: Individually Metered
  • Heating: Forced Air
  • Heating: Yes
  • Sewer: City/Town Sewer
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Road Frontage Type: Public
  • Disclosures: The rent for Trina's Starlight Lounge | Parlor Sports is based on their 07/01/2024 scheduled rent increase. Trina's Starlight Lounge | Parlor Sports Reimburses 43% of the Annual Real Estate Taxes and 30% of the Landlord's Annual Insurance Premiums.
Tax Information
  • Tax ID: 758571
  • Assessments: $2,296,900
  • Book: 72961
  • Tax Year: 24
  • Zoning: MR4
Building / Association Information
Living Characteristics
  • Beds Total: 16
  • Total Living Levels: 10
Other Building Characteristics
  • Foundation: Other
Income / Expenses
  • GOI: $364,948.00
  • GRE: $69,983
  • NOI: $294,966.00
  • Operating Expense: $69,983.00
Complex & Association Information
  • Adult Community: No
Unit Information
Unit 1 Description
  • Floor U1: 2
  • Lease U1: Y
  • Levels U1: 1
Unit 2 Description
  • Floor U2: 2
  • Lease U2: Y
  • Levels U2: 1
Unit 3 Description
  • Floor U3: 3
  • Lease U3: Y
  • Levels U3: 1
Unit 4 Description
  • Floor U4: 3
  • Lease U4: Y
  • Levels U4: 1
Rental Info
Rental Info
  • Total Actual Rent: $28,550.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 2%
  • Other Agent Compensation: 0

Property History for 1 Beacon Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1 Beacon Street

Taxable ValueLand$570,400Additions$1,726,500Total$2,296,900
Home Facts
Baths5.5Total Finished SqFt6,812 SqFtAbove Grade Finished SqFt6,812 SqFtStories3Lot Size5,450 SqFtStyleOffice BuildingYear Built1900ZoningRCCountyMIDDLESEXAPNSOME M:76 B:E L:9

Schools near 1 Beacon Street

This home is within Somerville School District.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - K to 8
Public - 7 to 8
Rating
School
Distance
Somerville High School
Public9 to 12

E Somerville Community
PublicK to 8

Next Wave Junior High School
Public7 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1 Beacon Street is a multi-family home for sale in Somerville, MA 02143. This property was listed for sale on April 19, 2024 by Horvath & Tremblay, it's currently listed at $4,600,000. It has been on the market for a total of 15 days and was last sold on February 3, 2005. This listing's school district is Somerville School District. Nearby schools include Albert F. Argenziano School At Lincoln Park, Somerville High School and E Somerville Community. 1 Beacon Street is a 16-bed, 8-bath, 6,812 sqft multi-family home built in 1900.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Horvath & Tremblay, John Pentore; Horvath & Tremblay, Dennis Kelleher

The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS. 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. MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS 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.