250-256 Somerville Ave, Somerville MA 02143
About this home
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). September 2024 Projected Rent Roll is $47,200 per month (only two parking spaces unrented for upcoming year). Historical operating expenses of approximately $65,000. Projected NOI of approximately $500,000!
Sale Statistics
This property sold for 15.1% below the original asking price.
At 140 days on market, this property took longer than average to sell.
Facts & Features
Property Overview
Interior Features
Exterior & Structure
Lot & Land
Parking & Garage
Utilities & Systems
Community & HOA
Financial & Tax Information
Additional Details
Location
Neighborhood
Union Square
250-256 Somerville Ave, Somerville MA 02143
Somerville, MA 02143
Walkability
Schools
School information not available
Monthly Payment Calculator
Payment Breakdown
Property History
Market Insights
Property Timeline
Sold
Sep 16, 2024Listed for Sale
Apr 10, 2024| Date | Event | Price | Change | $/sqft | Details |
|---|---|---|---|---|---|
| 09/16/2024 | ✓ Sold | $7,545,000 | - | - | Property sold |
| 04/10/2024 | 🏠 Listed for Sale | $7,995,000 | - | - | Original listing |