ParkingPaved Drive, Off Street, Assigned, Driveway
Year Built1910
BasementYes
ViewCity
MLS #73222468
Lot Size0.28 Acres
StatusActive
About 250-256 Somerville Ave
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
Property Features
Property Information:
Year Built: 1910
Living Area: 13,543 SqFt
Listing Office:
Office Name: Senne
Listing Agent: William Senne
Interior Features
Interior Information:
Basement: Yes
Flooring Type: Wood
Bedroom and Bathroom Information:
Full Bathrooms: 12
Total Bedroom Count: 24
Exterior Features
Exterior Information:
View: City
Parking Information:
Parking: Paved Drive, Off Street, Assigned, Driveway
Lot Features
Lot Information:
Lot Size: 0.28 Acres
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: Prospect Street to Somerville Avenue
Price Information
Listing Price Info
Price Summary:
List Price: $8,888,000
Price Per SqFt: $656/SqFt
Agent Commission:
Buyer's Agent Commission: 2.0%
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Housing Market Comparison
See how this home compares to others in Somerville, MA.
This property is $7.8M more than the Median Sold Price and $20/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: #73222468
Listing Office:
Office Name: Senne
Listing Agent: William Senne
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: 4/30/2024, 12:55:14 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
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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 school1.88 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 school0.47 miles
Public District Grades PK-8
4
/10
E Somerville Community
50 Cross St
Distance between this listing and this school0.73 miles
Public District Grades KG-8
5
/10
Winter Hill Community
115 Sycamore St
Distance between this listing and this school1.14 miles
Public District Grades PK-8
High School
4
/10
Somerville High School
81 Highland Ave
Distance between this listing and this school0.80 miles
Public District Grades 9-12
Assigned Schools
9
/10
Benjamin G Brown
201 Willow Ave
Distance between this listing and this school1.88 miles
Public District Grades KG-6
Nearby Schools
6
/10
King Open
850 Cambridge St
Distance between this listing and this school0.32 miles
Public District Grades PK-5
3
/10
Kennedy-Longfellow
158 Spring St
Distance between this listing and this school0.54 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 school0.47 miles
Public District Grades PK-8
4
/10
E Somerville Community
50 Cross St
Distance between this listing and this school0.73 miles
Public District Grades KG-8
5
/10
Winter Hill Community
115 Sycamore St
Distance between this listing and this school1.14 miles
Public District Grades PK-8
Assigned Schools
4
/10
Somerville High School
81 Highland Ave
Distance between this listing and this school0.80 miles
Public District Grades 9-12
Nearby Schools
7
/10
Community Charter School of Cambridge
245 Bent St
Distance between this listing and this school0.66 miles
Public Charter Grades 7-12
4
/10
Prospect Hill Academy Charter School
50 Essex St
Distance between this listing and this school0.82 miles
The neighbors living near this home have an average income of $43,876. The majority of Somerville, MA residents have income between $35k-100k annually. Residents typically live in single, no kids family. The majority of residents in this area have high school diploma education.
All data provided by Home Junction and Claritas
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This home is located at 250-256 Somerville Ave in Somerville, MA and zip code 02143 in the Union Square / Prospect neighborhood. This 13,543 square foot home, which was built in 1910, sits on a 0.28 acre lot. Features: 24 bedrooms, 12 bathrooms. It has been listed on Rocket Homes since April 10, 2024 and is currently priced at $8,888,000.
In March 2024, from all listings sold in Somerville, MA there were more than 17 sold above asking price, over 16 sold below and more than 2 were sold right at the asked price. In March 2024 in Somerville, MA there were 15.2% more homes for sale than in February 2024. The median list price of listings available in March 2024 was $1,023,750, while the average time on the real estate market was 35 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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