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The Warwick 13 Warwick St 27 Unit Apartment Building $16,500,000 ($611,111/Unit) 5.15% Cap Rate Somerville, MA 02145
INVESTMENT HIGHLIGHTS
- New Construction
- Condo Quality Finishes
- #1 Builders in the Somerville Market
EXECUTIVE SUMMARY
EXCLUSIVE OPPORTUNITY AT 13 WARWICK STREET: A newly built 28-unit rental property in Somerville’s prime Spring Hill neighborhood—just 15 minutes from downtown Boston and close to Davis Square. Developed by SMT Development and Prominent Builders, who have completed 100+ projects in Somerville, the building offers condo-quality finishes and a unit mix of 10 studios, 2 one-bedrooms, 13 two-bedrooms, and 2 three-bedrooms, including 23 market-rate and 5 affordable units. Additional highlights include 11 garage parking spaces, a projected rent roll of $91,500 per month, and annual income potential of $1.1M. Located just a 5-minute walk to the Green Line T stop, the property will be delivered 100% complete with a certificate of occupancy expected in February 2026. CALL FOR OFFERS: December 15th. Construction plans are available in the MLS documents; financials are available upon request.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$1,100,000
|
$27.67
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$1,100,000
|
$27.67
|
| Taxes |
-
|
-
|
| Operating Expenses |
$250,000
|
$6.29
|
| Total Expenses |
$250,000
|
$6.29
|
| Net Operating Income |
$850,000
|
$21.38
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $1,100,000 |
| Annual Per SF | $27.67 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $1,100,000 |
| Annual Per SF | $27.67 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $250,000 |
| Annual Per SF | $6.29 |
| Total Expenses | |
|---|---|
| Annual | $250,000 |
| Annual Per SF | $6.29 |
| Net Operating Income | |
|---|---|
| Annual | $850,000 |
| Annual Per SF | $21.38 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Patio
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Smoke Free
- Walking/Biking Trails
- Roof Terrace
- Elevator
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 10 | $2,775 | 450 - 550 |
| 1+1 | 2 | $3,120 | 600 |
| 2+2 | 13 | $4,175 | 800 - 1,030 |
| 3+2 | 2 | $5,500 | 1,030 |
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Walk Score®
Very Walkable (89)
Transit Score®
Excellent Transit (80)
Bike Score®
Biker's Paradise (99)
PROPERTY TAXES
| Parcel Number | SOME-000033-F000000-000002 | Total Assessment | $2,916,400 (2025) |
| Land Assessment | $1,680,000 (2025) | Annual Taxes | $0 ($0.00/SF) |
| Improvements Assessment | $1,236,400 (2025) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Number
SOME-000033-F000000-000002
Land Assessment
$1,680,000 (2025)
Improvements Assessment
$1,236,400 (2025)
Total Assessment
$2,916,400 (2025)
Annual Taxes
$0 ($0.00/SF)
Tax Year
2026
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The Warwick | 13 Warwick St
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