250-256 Somerville Avenue
250-256 Somerville Avenue
$8,888,000
24
12
13,543
13,543
$656
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...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 Details for 250-256 Somerville Avenue
Town
Somerville
MLS AreaUnion Square
AreaMA-Somerville-Union Square, MA-Somerville
Garage Spaces0
Parking Spaces12.00
Parking Spaces Total12
Location
LISTING UPDATED: 04/14/2024 03:09 AM
Property Details for 250-256 Somerville Avenue
Status | Active |
---|---|
MLS # | 73222468 |
Days on Market | 20 |
Taxes | $37,178 / year |
HOA Fees | - |
Compass Type | Multi Family |
MLS Type | Multi-family / 5-9 Family |
Year Built | 1910 |
County | Middlesex County |
Location
Building Information for 250-256 Somerville Avenue
Stories3Residences12Year Built1910Building Size-Lot Size0.28 AC / 12,194 SF
Payment Calculator
$51,604 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 250-256 Somerville Avenue
Property History for 250-256 Somerville Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 250-256 Somerville Avenue
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 |
---|---|---|
Albert F. Argenziano School At Lincoln Park PublicPK to 8 | ||
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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