$3,995,000 ($570.71 per sqft)

Est. Mortgage $20,201/mo *

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5-9 School St, Somerville, MA, 02143

5-9 School St, Somerville, MA, 02143
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99 rooms

19 beds

11 Full baths

1920

7,000 sqft

**$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.

Status:

Active

Type:

Multi-family

Units:

9

Zoning:

UR

Basement:

Full

Levels:

4

Acreage:

0.1

Est. Taxes:

$28,902

Construction

Brick

Lot Description:

Level

View Description:

City View(s)

MLS #:

73303433

Community Info

School Info

Walk Score

Mass Transit

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Listing courtesy of Nicholaus Jasinski, Berkadia Real Estate Advisors LLC Phone: 617-648-4191