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.
Property Details
Property Features
Property Information:
Year Built: 1900
Living Area: 6,812 SqFt
Listing Office:
Office Name: Horvath & Tremblay
Listing Agent: John Pentore
Interior Features
Interior Information:
Appliances: Washer, Dryer
Basement: Yes
Bedroom and Bathroom Information:
Full Bathrooms: 8
Total Bedroom Count: 16
Exterior Features
Exterior Information:
Exterior: Balcony/Deck
Parking Information:
Parking: Off Street
Lot Features
Lot Information:
Lot: Corner Lot
Lot Size: 0.13 Acres
Utilities
Utilities Information:
Heating: Forced Air
Cooling: Central Air
School Info
Assigned Schools Information:
Somerville High School, Public District Grades 9-12
Albert F. Argenziano School At Lincoln Park, Public District Grades PK-8
E Somerville Community, Public District Grades KG-8
Winter Hill Community, Public District Grades PK-8
Benjamin G Brown, Public District Grades KG-6
Other
Directions Information:
Directions: Please use GPS
Price Information
Listing Price Info
Price Summary:
List Price: $4,600,000
Price Per SqFt: $675/SqFt
Agent Commission:
Buyer's Agent Commission: 2%
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Housing Market Comparison
See how this home compares to others in Somerville, MA.
This property is $3.5M more than the Median Sold Price and $45/SqFt more than other homes in Somerville, MA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: MLS Property Information Network
MLS Number: #73226159
Listing Office:
Office Name: Horvath & Tremblay
Listing Agent: John Pentore
Disclaimer: The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information 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. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. We may make use of information provided by users of this website - see our Terms of Use for more details on our privacy policy. Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Note: Any Compensation information or listing brokers offer of compensation displayed is only applicable to other member participants of the source MLS.
Last updated on: 5/2/2024, 2:20:32 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Feb 03, 2005
Feb 03, 2005Home Sold
$800,000
May 01, 1997
May 01, 1997Home Sold
$175,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
-
$1,643,300
2020
-
$1,607,600
2019
-
$1,526,800
2018
-
$1,517,900
2017
-
$1,460,400
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
9
/10
Benjamin G Brown
201 Willow Ave
Distance between this listing and this school1.70 miles
Public District Grades KG-6
Middle School
3
/10
Albert F. Argenziano School At Lincoln Park
290 Washington St
Distance between this listing and this school0.35 miles
Public District Grades PK-8
4
/10
E Somerville Community
50 Cross St
Distance between this listing and this school1.11 miles
Public District Grades KG-8
5
/10
Winter Hill Community
115 Sycamore St
Distance between this listing and this school1.19 miles
Public District Grades PK-8
High School
4
/10
Somerville High School
81 Highland Ave
Distance between this listing and this school0.87 miles
Public District Grades 9-12
Assigned Schools
9
/10
Benjamin G Brown
201 Willow Ave
Distance between this listing and this school1.70 miles
Public District Grades KG-6
Nearby Schools
8
/10
Martin Luther King Jr.
359 Broadway
Distance between this listing and this school0.30 miles
Public District Grades PK-5
5
/10
Cambridgeport
89 Elm St
Distance between this listing and this school0.40 miles
Public District Grades PK-5
Assigned Schools
3
/10
Albert F. Argenziano School At Lincoln Park
290 Washington St
Distance between this listing and this school0.35 miles
Public District Grades PK-8
4
/10
E Somerville Community
50 Cross St
Distance between this listing and this school1.11 miles
Public District Grades KG-8
5
/10
Winter Hill Community
115 Sycamore St
Distance between this listing and this school1.19 miles
Public District Grades PK-8
Assigned Schools
4
/10
Somerville High School
81 Highland Ave
Distance between this listing and this school0.87 miles
Public District Grades 9-12
Nearby Schools
5
/10
Cambridge Rindge and Latin
459 Broadway
Distance between this listing and this school0.47 miles
Public District Grades 9-12
4
/10
Prospect Hill Academy Charter School
50 Essex St
Distance between this listing and this school0.49 miles
The neighbors living near this home have an average income of $85,435. Typical income of Somerville, MA residents is between $35k-100k annually. Typical family type is single, no kids. The majority of residents in this area have post secondary degree education.
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This home is located at 1 Beacon St in Somerville, MA and zip code 02143 in the Cobble Hill / Ward 2 neighborhood. This 6,812 square foot home, which was built in 1900, sits on a 0.13 acre lot. Features: 16 bedrooms, 8 bathrooms. It has been listed on Rocket Homes since April 19, 2024 and is currently priced at $4,600,000.
In April 2024 more than 21 listings in Somerville, MA were sold above the asking price. During the same period more than 6 listings were sold at asking price, while more than 15 were sold below. The number of listings in Somerville, MA increased by 28.9% between March 2024 and April 2024. In April 2024 median list price was $1,029,983 and the average listing age was 37 days.
From Rocket Homes Real Estate and based on county public records data.
Disclaimer: The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information 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. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. We may make use of information provided by users of this website - see our Terms of Use for more details on our privacy policy.
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