1 Beacon St, Somerville MA 02143
About this home
One Beacon, 6.70% 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.
Sale Statistics
This property sold for 7.6% below the original asking price.
The property spent 65 days on market before selling.
Facts & Features
Property Overview
Interior Features
Exterior & Structure
Lot & Land
Parking & Garage
Utilities & Systems
Community & HOA
Financial & Tax Information
Additional Details
Location
Neighborhood
Inman Square
1 Beacon St, Somerville MA 02143
Somerville, MA 02143
Walkability
Schools
School information not available
Monthly Payment Calculator
Payment Breakdown
Property History
Market Insights
Property Timeline
Sold
Jul 26, 2024Listed for Sale
Apr 19, 2024| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 07/26/2024 | ✓ Sold | $4,250,000 | - | - | Property sold |
| 04/19/2024 | 🏠 Listed for Sale | $4,400,000 | - | - | Original listing |