5-9 School St Somerville, MA 02143
Listing Courtesy of: MLS PIN / Berkadia Real Estate Advisors LLC / Nicholaus Jasinski

  5-9 School St Somerville, MA 02143

Active (1 Days)
$3,995,000
19
BED
11
BATH
7,000
SQFT

Description

**$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.

MLS #:
73303433
Taxes
$28,902(2024)
Lot Size
4,356 SQFT
Type
Multifamily
Year Built
1920
Views
City View(s)
County
Middlesex County

Listed By

Nicholaus Jasinski, Berkadia Real Estate Advisors LLC
Source
MLS PIN
Last checked Oct 18 2024 at 7:48 AM EDT
Bathroom Details
Lot Information
  • Level
Property Features
  • Fireplace: 0
  • Foundation: Other
Basement Information
  • Full
Exterior Features
  • Roof: Rubber
Utility Information
  • Utilities: Water: Public
  • Sewer: Public Sewer
Stories
  • 4
Living Area
  • 7,000 sqft
Location
   
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