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Listing Courtesy of: Nicholaus Jasinski - Berkadia Real Estate Advisors LLC 617-648-4191

$3,995,000

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5-9 School St Unit 5-9 Somerville, MA 02143

Multi-Family Residence

19 Beds

11 Baths

Sq. Ft.

0.1 Acre Lot

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Last updated on 11/7/2024 12:23 AM

Listing Details

**$247,782 Proforma NOI** The School Street Apartments is a 9-unit apartment complex located in the heart of Somerville near Union Square, featuring (6) 2-bedroom, 1-bathroom, (2) 3-bedroom, 2-bathroom, and (1) 1-bedroom, 1-bathroom units. There is a value-add opportunity at the property to perform ...light unit updates and raise rents to competitive market levels. Also available (not included in 5-9 School St price) is the 2 Quincy Street lot, an abutting development site of 0.14 acres under Somerville’s “Urban Residence (UR)” zoning, which allows one apartment building by right. Current ownership has plans drawn up for a 20-unit building with 4 floors. Less than a half mile from both the Porter Square and Gilman Square T-stops on the Green Line and Commuter Rail, and steps away from MBTA Bus Routes on Somerville Ave, the property offers direct access to employment centers in Downtown Boston, Somerville, and Cambridge. Continue reading

MLS#

73303433

Property Type

Multi-Family

Bedrooms

Bathrooms

11 Full

Year Built

1920

Price per Sq. Ft.

$570.71

Lot Size