Active

5-9 School St

Somerville MA, 02143

$3,995,000


$570.71 per sqft

Active

19 Beds

11 Baths

7,000 sqft

Multi-family

Built in 1920

**$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.

73303433

MLS ID

October 17, 2024

Listed

October 29, 2024

Updated

Map

5-9 School St
Somerville MA, 02143

Interior Features

Total Stories

4


Bedrooms

19


Total Bathrooms

11


Full Bathrooms

11


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.1 Acres


Lot Features

Level


Roof

Rubber


Sewer

Public Sewer

Other Property Details

Taxes

$28,902


Tax Frequency

Annually


Days on Market

12


Garage

No


Parking Total

0


View

Yes


View Description

City View(s)


County

Middlesex


Water Source

Public


Pool

No


Zoning

UR

 

Courtesy of Nicholaus Jasinski, Berkadia Real Estate Advisors LLC

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Data last updated 9:31 PM UTC, 10/29/2024

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