278 Beacon St | Somerville, MA 02143
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278 Beacon St
Somerville, MA 02143
Multifamily Property For Sale
·
37 Units
Investment Highlights
- ½ mile to Porter Square and less than 1 mile to Harvard Square.
- 36 apartments, 34 parking spaces, plus roof rental to a Cell Tower.
- Currently leased at below-market rental rates, presenting the opportunity to increase net income with minimal additional capital requirements.
- July, 2020 note: At present, all Tenants in the building are current with rent payments.
- Units are in turnkey condition; 30 of the 36 have been renovated.
- See attached brochure and renovation grid. Offers may be presented until August 15, 2020.
Property Facts
| No. Units | 37 | Lot Size | 0.36 AC |
| Property Type | Multifamily | Building Size | 38,090 SF |
| Property Subtype | Apartment | No. Stories | 7 |
| Apartment Style | Mid-Rise | Year Built | 1978 |
| Building Class | B | Parking Ratio | 0.89/1,000 SF |
| Zoning | RC | ||
| No. Units | 37 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.36 AC |
| Building Size | 38,090 SF |
| No. Stories | 7 |
| Year Built | 1978 |
| Parking Ratio | 0.89/1,000 SF |
| Zoning | RC |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Storage Space
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Views
- Carpet
- Double Pane Windows
- Freezer
- Intercom
- Linen Closet
- Smoke Free
- Wheelchair Accessible (Rooms)
- Window Coverings
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Recycling
- Smoke Free
- Trash Pickup - Curbside
- Storage Space
- Bicycle Storage
- Elevator
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 19 | - | 700 |
| 2+1 | 17 | - | 900 - 950 |
Property Taxes
| Parcel Number | SOME-000039-D000000-000003 | Improvements Assessment | $7,852,200 |
| Land Assessment | $2,213,300 | Total Assessment | $10,065,500 |
Property Taxes
Parcel Number
SOME-000039-D000000-000003
Land Assessment
$2,213,300
Improvements Assessment
$7,852,200
Total Assessment
$10,065,500
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