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8-14 Craigie St 21 Unit Apartment Building $9,500,000 ($452,381/Unit) Somerville, MA 02143
Investment Highlights
- Close to Prestigious Universities and low vacancy rate under current ownership.
Executive Summary
This 21-unit, 42 bedroom building boasts a strong CAP rate, offering a promising investment for buyers on a .23 Acre Lot. Come explore the exceptional opportunity at 8-14 Craigie Street in the lively community of Somerville abutting Porter Square & Cambridge. Conveniently located near prestigious institutions such as Harvard, Lesley, & MIT, this property is fully occupied. Your next investment property is in close proximity to world-class universities, providing easy access to lectures & campus life. The Red Line and bus routes are just a short distance away, ensuring quick commutes to Boston or Kendall Square. This prime location combines urban convenience with academic vibrancy. With a strong rental history and a very low vacancy rate, there's high demand from scholars & professionals, guaranteeing top rental value in Somerville’s competitive market. Craigie St presents an unparalleled opportunity in an outstanding location.
Property Facts
| Price | $9,500,000 | Building Class | C |
| Price Per Unit | $452,381 | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 25,164 SF |
| No. Units | 21 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1920 |
| Apartment Style | Low-Rise | Parking Ratio | 0.08/1,000 SF |
| Zoning | RB | ||
| Price | $9,500,000 |
| Price Per Unit | $452,381 |
| Sale Type | Investment |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 25,164 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1920 |
| Parking Ratio | 0.08/1,000 SF |
| Zoning | RB |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 21 | - | - |
Walk Score®
Walker's Paradise (96)
Transit Score®
Excellent Transit (80)
Bike Score®
Biker's Paradise (94)
Property Taxes
| Parcel Number | SOME-000038-A000000-000070 | Improvements Assessment | $4,174,600 |
| Land Assessment | $1,428,000 | Total Assessment | $5,602,600 |
Property Taxes
Parcel Number
SOME-000038-A000000-000070
Land Assessment
$1,428,000
Improvements Assessment
$4,174,600
Total Assessment
$5,602,600
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8-14 Craigie St
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