J
Seller's Agent in 2024
John Pentore
Horvath & Tremblay
1 Beacon St Somerville, MA 02143
Prospect Hill Neighborhood
16
Beds
8
Baths
6,812
Sq Ft
5,662
Sq Ft Lot
Highlights
- Medical Services
- 0.13 Acre Lot
- Property is near public transit and schools
- Somerville High School Rated A-
- Deck
- Corner Lot
About This Home
As of July 2024One 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.
Last Agent to Sell the Property
John Pentore
Horvath & Tremblay Listed on: 04/19/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $30,909
Year Built
- Built in 1900
Lot Details
- 5,662 Sq Ft Lot
- Corner Lot
Home Design
- 6,812 Sq Ft Home
- Rubber Roof
Bedrooms and Bathrooms
- 16 Bedrooms
- 8 Full Bathrooms
Laundry
- Dryer
- Washer
Parking
- 4 Car Parking Spaces
- Off-Street Parking
Outdoor Features
- Balcony
- Deck
Location
- Property is near public transit and schools
Utilities
- Forced Air Heating and Cooling System
- Separate Meters
Additional Features
- Unfinished Basement
Listing and Financial Details
- Total Actual Rent $28,550
- Rent includes unit 1(water), unit 2(water), unit 3(water), unit 4(water)
- Assessor Parcel Number 758571
Community Details
Overview
- 6 Units
- Property has 1 Level
Amenities
- Medical Services
- Shops
- Coin Laundry
Recreation
- Tennis Courts
- Community Pool
- Park
- Jogging Path
Building Details
- Operating Expense $69,983
- Net Operating Income $294,966
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/26/2024 07/26/24 | Sold | $4,250,000 | -3.4% | $624 / Sq Ft |
| 06/24/2024 06/24/24 | Pending | -- | -- | -- |
| 06/12/2024 06/12/24 | Price Changed | $4,400,000 | -3.3% | $646 / Sq Ft |
| 06/05/2024 06/05/24 | Price Changed | $4,550,000 | -1.1% | $668 / Sq Ft |
| 04/19/2024 04/19/24 | For Sale | $4,600,000 | -- | $675 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
Tax History Compared to Growth
Agents Affiliated with this Home
-
-
Siyin Qu
Buyer's Agent in 2024
Siyin Qu
eXp Realty
(888) 854-7493
3 in this area
34 Total Sales
Map
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73226159
APN: SOME-000076-E000000-000009
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