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Closed

250 Highland Ave, Somerville MA 02143

$1,550,000

Estimated $3,517.74/month Calculator

Multi Family

Total Units: 3

Price Per Unit: $516,666.67

Total Rent: 108360/year

Estimated CAP Rate: 6.21%

8 Bedrooms

3 Full Baths

3,429 SqFt

Total Parking: 4

4,251 SqFt

Excellent investment opportunity in the prime Somerville Spring Hill neighborhood, next to Davis Square. Condo quality kitchens and baths in all 3 apartments can be found in this well maintained building on a corner lot with rare 4+ parking. High quality tenants are attracted to this hip location just steps to Davis Square and the community bike path, 3 Little Figs, the Armory, Porter Square. Multiple MBTA stops are short distances away including the new Magoun Square Green line & Porter Square Red line stop. Each unit has separate utilities and features gleaming hardwood floors, granite counter-tops, custom hardwood cabinets, and crown molding. Units 1 and 2 have Stainless steel appliances. The basement includes designated storage areas and two sets of coin-op washer/dryers which ultimately pay for the common water reducing your operating expenses. Fully leased with an opportunity for rent increases.

This home has been viewed 32 times

Last Checked: May 7th, 2024 at 4:46am (Source: MLS PIN #73104568)

Gross Income: $108,360

Gross Expenses: $12,053

Net Income Calc: $96,307

CAP Rate: 6.21%

Annual Expenses for 250 Highland Ave, Somerville MA 02143

Total Gross Expenses (Calculated)$12,053/year

APOD AvailableYes

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax$12,053

Annual Income & Unit Breakdown for 250 Highland Ave, Somerville MA 02143

Total Gross Income (Calculated)$108,360

Unit 1

Rental Income$2,730

LeaseY

Bedrooms2

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingYes

Rent IncludesUnit 1(water), Unit 2(water), Unit 3(water)

Unit 2

Rental Income$3,500

LeaseY

Bedrooms3

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingYes

Rent IncludesUnit 1(water), Unit 2(water), Unit 3(water)

Unit 3

Rental Income$2,800

LeaseY

Bedrooms3

Bathrooms1 Full

Floor3

Levels in Unit1

HeatingYes

Rent IncludesUnit 1(water), Unit 2(water), Unit 3(water)

General Information for 250 Highland Ave, Somerville MA 02143

Listing ID73104568

Property TypeMulti Family / 3 Family

Price$1,550,000 ($452.03/SqFt)

Style3 Family

CitySomerville

CountyMiddlesex

MLS AreaSpring Hill

Neighborhood(s)

Approximate Living Area Total3,429 SqFt

Approximate Lot Size (Acres)0.1 acres

Total Parking4

Garage Parking

Year Built1905

Year Built SourcePublic Records

Year Renovated

Year Built DetailsRenovated Since

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction MaterialsFrame

Lot FeaturesCorner Lot

Foundation Area

Foundation DescriptionBlock,Stone,Slab

Accessible Features

Outdoor Space

ZoningR

Zoning Details

Water ViewsNo

Water Views Features

WaterfrontNo

Waterfront Features

Energy Features

Terms

Disclosures for 250 Highland Ave, Somerville MA 02143

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area Disclosurepossibility to add 3rd bedroom to unit 1

Building Area SourcePublic Records

Title 5

Exclusions

Disclosures

Financial Data Source

Total Gross Expenses By Broker$0

Total Gross Income By Broker$108,360

Total Net Income By Broker$108,360

For Sale By OwnerNo

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation2

Facilitator Compensation

Sub-Agent Compensation

Compensation Based OnNet Sale Price

Financial Information for 250 Highland Ave, Somerville MA 02143

Real Estate Taxes$12,053

Tax Year2022

Assessed Value$1,184

Financial Data Source

Total Gross Expenses By Broker$0

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$108,360

BostonRealEstate.com Gross Income

Total Net Income By Broker$108,360

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)6.21%

Location Information for 250 Highland Ave, Somerville MA 02143

Elementary SchoolChoice

Middle SchoolChoice

High SchoolSomerville High

Neighborhood(s)

MLS AreaSpring Hill

Area AmenitiesWalk/jog Trails, Highway Access, Shopping, Park, Bike Path, Public Transportation, T-station, University

Contact Information for 250 Highland Ave, Somerville MA 02143

Agent

Name: The Moving Greater Boston Team

Office

Name: Berkshire Hathaway HomeServices Warren Residential

Phone: 617-848-9616

Team Members

Name: Thomas Macdonald

Phone: 617-290-8255

Name: Joshua Stephens

Phone: 617-682-9661

Payment Calculator

, Interest

Property Taxes 1004.42

Principal & Interest 9550.61

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Berkshire Hathaway HomeServices Warren Residential

The Moving Greater Boston Team

Agent Phone

Office Phone

(617) 848-9616

Text Agent Call Agent Call Office

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EXIT

Closed

250 Highland Ave, Somerville MA 02143

$1,550,000

Annual Expenses for 250 Highland Ave, Somerville MA 02143

Annual Income & Unit Breakdown for 250 Highland Ave, Somerville MA 02143

General Information for 250 Highland Ave, Somerville MA 02143

Disclosures for 250 Highland Ave, Somerville MA 02143

Financial Information for 250 Highland Ave, Somerville MA 02143

Location Information for 250 Highland Ave, Somerville MA 02143

Contact Information for 250 Highland Ave, Somerville MA 02143

Agent

Office

Team Members

Payment Calculator

Exclusive Listing Agent

Berkshire Hathaway HomeServices Warren Residential

The Moving Greater Boston Team