Active

1 Beacon St

Somerville MA, 02143

$4,400,000


$645.92 per sqft

Active

16 Beds

8 Baths

6,812 sqft

Multi-family

Built in 1900

One Beacon, 6.70% cap rate with rental upside, is a turn-key asset exceptionally located in Somerville's Inman Square neighborhood on the Cambridge border. The Property contains six units consisting of (4) 4-Bedroom/2-Bathroom units and two commercial units. The Property is fully leased and has undergone extensive interior unit renovations featuring condo quality finishes in the residential units including new kitchens with custom cabinets, quartz counter tops and stainless-steel appliances, updated bathrooms with new tile flooring and high-end fixtures, vinyl plank floors as well as new forced hot air and central air-conditioning systems and Navien tankless hot water systems. The commercial tenant, Trina's Starlite Lounge and Parlor Sports (both leased by one tenant), recently extended their lease for 5-years (through August 31, 2029) and reimburse their pro-rata share of Real Estate Taxes, Insurance and Utilities. Common laundry for tenants is located on the 2nd and 3rd floor.

73226159

MLS ID

April 19, 2024

Listed

June 16, 2024

Updated

Map

1 Beacon St
Somerville MA, 02143

Interior Features

Total Stories

10


Bedrooms

16


Total Bathrooms

8


Full Bathrooms

8


Appliances

Washer, Dryer


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Forced Air

Exterior/Building Features

Lot Size

0.13 Acres


Exterior Features

Balcony/Deck


Lot Features

Corner Lot


Roof

Rubber


Sewer

Public Sewer

Other Property Details

Area Name

Inman Square


Taxes

$30,909


Tax Frequency

Annually


Days on Market

58


Garage

No


Parking

Off Street


Parking Total

4


View

No


County

Middlesex


Water Source

Public


Pool

No


Zoning

MR4


Buyer Agency Compensation

2%

Listing History

Date

Event

Price

6/12/2024

Price Change

$4,400,000

-4%

6/5/2024

Price Change

$4,550,000

-2%

 

Courtesy of John Pentore, Horvath & Tremblay

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Data last updated 9:09 AM UTC, 6/16/2024

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