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21 Allen Street, Somerville MA 02143

$8,000,000

Estimated $17,756/month Calculator

Multi Family

Total Units: 69

Price Per Unit: $115,942.03

Total Rent: 183864/year

Estimated CAP Rate:

76 Bedrooms

Baths

47572

Total Parking: 0

17,873 (0.41)

The Ropewalk is a 69-unit multi-family development in the heart of Union Square, adjacent to the newly opened MBTA Station. The arrival of the Green Line Transit Station has precipitated a rapid transformation of the Square. The Square's $2 billion, 3.8 million SF master-planned development, coined USQ spans 20 acres and includes 2.4M SF of lab and innovation space,150,000 SF of retail and restaurant space, and 4.7 acres of vibrant open spaces. Phase I was delivered by Magellan Development in Q3 2023 with future phases set to break ground in 2024. Boynton Yards and Somerville Gateway which border Union Square to the east and south are complimentary master-planned developments adding a combined 4.1 million SF state-of-the-art life sciences/biotech, hotel, and retail spaces to the broader neighborhood. The project is in a qualified OZ and has been permitted as a Passive House project; set to achieve the highest level of sustainability. Approvals allow for either apartments or condos.

This home has been viewed 136 times

Last Checked: October 7th, 2024 at 4:19pm (Source: MLS PIN #73211289)

Gross Income: $183,864

Gross Expenses: $57,409

Net Income Calc: $126,455

Annual Expenses for 21 Allen Street, Somerville MA 02143

Total Gross Expenses (Calculated)$57,409/year

APOD AvailableNo

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax57409.43

Annual Income & Unit Breakdown for 21 Allen Street, Somerville MA 02143

Total Gross Income (Calculated)$183,864

Unit 1

Rental Income$0

LeaseN

Bedrooms0

Bathrooms

Floor1

Levels in Unit1

Rent IncludesHeat

Unit 2

Rental Income$0

LeaseN

Bedrooms1

Bathrooms1 Full

Floor2

Levels in Unit1

Rent IncludesHeat

Unit 3

Rental Income$0

Lease

Bedrooms2

Bathrooms2 Full, 1 Half

Floor2

Levels in Unit1

Rent IncludesHeat

Unit 4

Rental Income$0

Lease

Bedrooms2

Bathrooms2 Full

Floor3

Levels in Unit1

Rent IncludesHeat

General Information for 21 Allen Street, Somerville MA 02143

Listing ID73211289

Property TypeMulti Family

Price8000000 ($168.17/SqFt)

Style5+ Family - 5+ Units Up/down

CitySomerville

CountyMiddlesex

Neighborhood(s)

Approximate Living Area Total47572

Approximate Lot Size (Acres)0.41

Total Parking0

Garage Parking0

Year Built2025

Year Built SourceOwner

Year Built DetailsTo Be Built

WaterPublic

SewerPublic Sewer

Electric220 Volts

Hot Water

Roof MaterialAsphalt/fiberglass Shingles

BasementFull

Construction MaterialsFrame

Lot FeaturesGentle Sloping

Foundation Description

Accessible Features

Outdoor Space

ZoningUR

Water Views

Water Views FeaturesBay

Waterfront FeaturesRiver

Terms

Disclosures for 21 Allen Street, Somerville MA 02143

Lead Paint

UFFI

Living Area Includes BasementYes

Living Area Disclosure

Building Area SourceOther

ExclusionsNelson Pendant Lamp In Third Floor Bedroom/Office.

Financial Data SourceEstimated

Total Gross Expenses By Broker

Total Gross Income By Broker

Total Net Income By Broker

Short Sale / Forclosure (Bank Owned)Lender Owned

Buyer Agent Compensation1.5

Facilitator Compensation0

Compensation Based OnGross/full Sale Price

Financial Information for 21 Allen Street, Somerville MA 02143

Real Estate Taxes57409.43

Tax Year2024

Assessed Value$5,378,000

Financial Data SourceEstimated

Total Gross Expenses By Broker

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker

BostonRealEstate.com Gross Income

Total Net Income By Broker

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

Location Information for 21 Allen Street, Somerville MA 02143

Neighborhood(s)

Area AmenitiesWalk/jog Trails

Contact Information for 21 Allen Street, Somerville MA 02143

Agent

Name: Ryan Taylor

Office

Name: Fortune RE

Phone: 617-874-1000

Payment Calculator

, Interest

Property Taxes 4784.12

Principal & Interest 49293.46

HOA Dues

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Fortune RE

Ryan Taylor

Agent Phone

Office Phone

(617) 874-1000

Text Agent Call Agent Call Office

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    [unparsed] => 21 Allen Street, Somerville MA 02143
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EXIT

1 More Photo

Withdrawn

21 Allen Street, Somerville MA 02143

$8,000,000

Annual Expenses for 21 Allen Street, Somerville MA 02143

Annual Income & Unit Breakdown for 21 Allen Street, Somerville MA 02143

General Information for 21 Allen Street, Somerville MA 02143

Disclosures for 21 Allen Street, Somerville MA 02143

Financial Information for 21 Allen Street, Somerville MA 02143

Location Information for 21 Allen Street, Somerville MA 02143

Contact Information for 21 Allen Street, Somerville MA 02143

Agent

Office

Payment Calculator

Exclusive Listing Agent

Fortune RE

Ryan Taylor