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305-307 Medford St, Somerville MA 02143

$2,900,000

Estimated $6,613/month Calculator

Multi Family

Total Units: 6

Price Per Unit: $483,333.33

Total Rent: 72000/year

Estimated CAP Rate:

9 Bedrooms

Baths

7530

Total Parking: 0

4,219 (0.10)

305-307 Medford St. in Somerville consists of a three story building with (6) units consisting of (2) four bedroom/one bathroom units and (4) three bedroom/one bathroom units. Located in the path of the future Green Line Extension, the property offers the rare opportunity to acquire an exceptionally well located asset with value add potential in of the hottest real estate markets in a region that is poised for future growth. The property offers the ability to add value to a well constructed, brick building through renovating the units and the potential opportunity to capture basement space by duplexing the first floor units with the basement. The location offers unparalleled access to the new Gilman Square Station of the Green Line Extension, less than 1/4 mile from the property. The subject property is ideal for a potential buyer looking for strong location with significant upside. Somerville's outlook is bright as rentals continue to increase at a steady rate.

This home has been viewed 34 times

Last Checked: May 7th, 2024 at 3:36am (Source: MLS PIN #73093843)

Gross Income: $72,000

Gross Expenses: $22,924

Net Income Calc: $49,076

Annual Expenses for 305-307 Medford St, Somerville MA 02143

Total Gross Expenses (Calculated)$22,924/year

APOD AvailableNo

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax22924

Annual Income & Unit Breakdown for 305-307 Medford St, Somerville MA 02143

Total Gross Income (Calculated)$72,000

Unit 1

Rental Income$0

LeaseN

Bedrooms3

Bathrooms1 Full

Floor1

Levels in Unit1

Rent Includes

Unit 2

Rental Income$0

LeaseY

Bedrooms3

Bathrooms1 Full

Floor2

Levels in Unit1

Rent Includes

Unit 3

Rental Income$0

Lease

Bedrooms4

Bathrooms1 Full

Floor3

Levels in Unit1

Rent Includes

Unit 4

Rental Income$0

Lease

Bathrooms

Rent Includes

General Information for 305-307 Medford St, Somerville MA 02143

Listing ID73093843

Property TypeMulti Family / 5+ Family

Price2900000 ($385.13/SqFt)

Style5-9 Family

CitySomerville

CountyMiddlesex

Neighborhood(s)

Approximate Living Area Total7530

Approximate Lot Size (Acres)0.1

Total Parking0

Garage Parking0

Year Built1906

Year Built SourcePublic Records

Year Built DetailsApproximate

WaterPublic

SewerPublic Sewer

Electric

Hot Water

Roof MaterialAsphalt/fiberglass Shingles

Basement

Construction MaterialsFrame

Lot Features

Foundation Description

Accessible Features

Outdoor Space

ZoningBA

Water Views

Water Views Features

Waterfront Features

Terms

Disclosures for 305-307 Medford St, Somerville MA 02143

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

ExclusionsAll Personal Property.

Financial Data Source

Total Gross Expenses By Broker

Total Gross Income By Broker

Total Net Income By Broker

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation2%

Facilitator Compensation0

Compensation Based OnGross/full Sale Price

Financial Information for 305-307 Medford St, Somerville MA 02143

Real Estate Taxes22924

Tax Year2022

Assessed Value$2,251,900

Financial Data Source

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 305-307 Medford St, Somerville MA 02143

Neighborhood(s)

Area Amenities

Contact Information for 305-307 Medford St, Somerville MA 02143

Agent

Name: Dennis Kelleher

Office

Name: Horvath & Tremblay

Phone: 781-776-4000

Payment Calculator

, Interest

Property Taxes 1910.33

Principal & Interest 17868.88

HOA Dues

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Horvath & Tremblay

Dennis Kelleher

Agent Phone

Office Phone

(781) 776-4000

Text Agent Call Agent Call Office

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EXIT

10 More Photos

Closed

305-307 Medford St, Somerville MA 02143

$2,900,000

Annual Expenses for 305-307 Medford St, Somerville MA 02143

Annual Income & Unit Breakdown for 305-307 Medford St, Somerville MA 02143

General Information for 305-307 Medford St, Somerville MA 02143

Disclosures for 305-307 Medford St, Somerville MA 02143

Financial Information for 305-307 Medford St, Somerville MA 02143

Location Information for 305-307 Medford St, Somerville MA 02143

Contact Information for 305-307 Medford St, Somerville MA 02143

Agent

Office

Payment Calculator

Exclusive Listing Agent

Horvath & Tremblay

Dennis Kelleher