$4,250,000
$4,400,000
3.4%For more information regarding the value of a property, please contact us for a free consultation.
16 Beds
8 Baths
6,812 SqFt
SOLD DATE : 07/26/2024
Key Details
Sold Price $4,250,000
Property Type Multi-Family
Sub Type 5-9 Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,812 sqft
Price per Sqft $623
MLS Listing ID 73226159
Sold Date 07/26/24
Bedrooms 16
Full Baths 8
Year Built 1900
Annual Tax Amount $30,909
Tax Year 24
Lot Size 5,662 Sqft
Acres 0.13
Property Description
One Beacon, 6.70% 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.
Location
State MA
County Middlesex
Area Inman Square
Zoning MR4
Direction Please use GPS
Rooms
Basement Unfinished
Interior
Heating Forced Air
Cooling Central Air
Appliance Washer, Dryer
Exterior
Exterior Feature Balcony/Deck
Community Features Public Transportation, Shopping, Pool, Tennis Court(s), Park, Walk/Jog Trails, Medical Facility, Laundromat, Highway Access, House of Worship, Private School, Public School, T-Station, University
Waterfront false
Roof Type Rubber
Total Parking Spaces 4
Garage No
Building
Lot Description Corner Lot
Story 10
Foundation Other
Sewer Public Sewer
Water Public
Others
Senior Community false
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Bought with Siyin Qu • eXp Realty