12-14 Lake Street

Somerville, MA 02143

$1,343,000
Last Sold Price
8
Beds
4
Baths
3,757 Sq. Ft.
$357 / Sq. Ft.
3,757
Sq. Ft.
$357
per Sq. Ft.

Description

Red hot Union Square. Don't miss this rare opportunity to purchase a fantastic investment property. Available for the first time in over 70 years, this 4 family features side by side duplex style units. 1st floor units are both 3 room one bedroom flats. 2nd floor units are both 2 level 3 bedroom layouts. Unit 14-1 is vacant and ready for upgrades. The 3 remaining units are rented. This property is just blocks from the Green line extension that is projected to open in the near future. With an abundance...Red hot Union Square. Don't miss this rare opportunity to purchase a fantastic investment property. Available for the first time in over 70 years, this 4 family features side by side duplex style units. 1st floor units are both 3 room one bedroom flats. 2nd floor units are both 2 level 3 bedroom layouts. Unit 14-1 is vacant and ready for upgrades. The 3 remaining units are rented. This property is just blocks from the Green line extension that is projected to open in the near future. With an abundance of shops, restaurants and access to Universities and prolific area business's and Boston just beyond you should never have trouble renting these units. This property is in need of extensive updates. Seller is looking for highest and best clean offers. The vacant 1 bedroom unit and both sides of the basement may be accessed prior to making offers by appointment. Full access to the property will only be provided after an offer is accepted.

Listing Agent

  1. Team Patti Brainard

    Team Patti Brainard

    Listing Agent

    Compass

    teampb@compass.com

    P: 781.789.5767

Property Details for 12-14 Lake Street

Town
Somerville
MLS Area
Union Square
Area
MA-Somerville-Union Square, MA-Somerville
Garage Spaces
0
Parking Spaces
1.00
Parking Spaces Total
1

Location

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LISTING UPDATED: 08/06/2022 07:25 AM

Property Details for 12-14 Lake Street

StatusSold
MLS #72659682
Days on Market22
Taxes$12,688 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 4 Family
Year Built180
CountyMiddlesex County

Location

Add your commute

Building Information for 12-14 Lake Street

Stories6Residences4Year Built180Building Size-Lot Size0.07 AC / 3,224 SF

Payment Calculator

$8,387 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,329

Property Taxes

$1,057

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 12-14 Lake Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation, Shopping, Highway Access, T-Station
  • Current Financing: Conv. Fixed
  • Living Area: 3757.0
  • Color: red
  • Total Units: 4
  • Waterfront: No
  • Water View: No
  • Year Built Details: Approximate
  • Year Built Source: Public Records
Features
Interior Features
  • Appliances: Gas Water Heater, Tankless Water Heater, Utility Connections for Gas Range
  • Basement Features: Full, Interior Access, Unfinished Basement
  • Num of Baths: 4.0
  • Num of Full Baths: 4
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 4.00
  • Bathrooms Total Integer: 4
  • FireplaceYN: No
  • Fireplaces: 0
  • Flooring: Wood, Vinyl
Exterior Features
  • Construction: Frame
  • Roof Material: Shingle
Parking Features
  • Covered Spaces: .00
  • Garage: No
  • Garage Parking: Shared Driveway, On Street Permit
  • Open Parking: Yes
  • Parking Features: Shared Driveway, On Street Permit
  • Parking Features: On Street Permit
Utilities
  • Electric: Fuses
  • Sewer: City/Town Sewer
  • Utility Connections: for Gas Range
  • Water: Public
Property Information
Property Info
  • UFFI: Unknown
  • Year Round: Yes
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Road Frontage Type: Public
  • Disclosures: Unit 14-2 was deleaded,report will be provided to buyer upon request. This is an "as is","as occupied" sale.
Tax Information
  • Assessments: $1,257,500
  • Book: 19580
  • Tax Year: 2020
  • Zoning: tbd
Building / Association Information
Living Characteristics
  • Beds Total: 8
  • Total Living Levels: 6
Other Building Characteristics
  • Foundation: Stone, Brick/Mortar
  • Cooling Units: 0
  • Cooling Zones: 0
  • Heat Units: 4
  • Heat Zones: 4
Income / Expenses
  • GOI: $57,240.00
  • NOI: $57,240.00
Complex & Association Information
  • Adult Community: No
Unit Information
Unit 1 Description
  • Floor U1: 1
  • Lease U1: N
  • Levels U1: 1
Unit 2 Description
  • Floor U2: 2
  • Lease U2: N
  • Levels U2: 2
Unit 3 Description
  • Floor U3: 1
  • Lease U3: N
  • Levels U3: 1
Unit 4 Description
  • Floor U4: 2
  • Lease U4: N
  • Levels U4: 2
Rental Info
Rental Info
  • Total Actual Rent: $4,770.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 2.5
  • Other Agent Compensation: 2.5

Property History for 12-14 Lake Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 12-14 Lake 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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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.

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.