Seller's Agent in 2021
Chris Sower
Cushman & Wakefield
(617) 204-4134
1 in this area
40 Total Sales
400 Mystic Ave Somerville, MA 02145
Ten Hills Neighborhood
47
Beds
65
Baths
9,999
Sq Ft
0.47
Acres
About This Home
As of December 2021Presenting 400 Mystic Avenue, a new construction 30 unit, mixed use apartment community located in Somerville, Massachusetts. The boutique luxury asset is comprised of 27 residential apartment units and 3 ground floor retail commercial spaces. The apartments are currently 95% occupied and the commercial spaces, which span between 932-1,128 SF respectively, are all fully leased. The luxury apartment homes consist of an ideal mix of 1- and 2-bedroom units, offer unique and spacious layouts, as well as best-in-market unit finishes. The oversized units are comprised of 7 one-bedroom, one bath units and 20 two-bedroom, 2 bath units. Additionally, the property is strategically located steps from Assembly Row (40+ retailers, 30+ dining options) and is surrounded by multiple upcoming transformative life science projects, totaling 1.9M SF of development located within 0.5mi of the asset. OFFERS DUE WEDNESDAY, AUGUST 11th.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $0
Year Built
- 2019
Lot Details
- 0.47
Community Details
- Property has 9 Levels
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 7, 2021
Closed on
Dec 13, 2021
Sold by
Charmed Life Llc
Bought by
400 Mystic Owner Llc
Seller's Agent
Chris Sower
Cushman & Wakefield
Buyer's Agent
Chris Sower
Cushman & Wakefield
List Price
$16,750,000
Sold Price
$15,900,000
Premium/Discount to List
-$850,000
-5.07%
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$10,500,000
Outstanding Balance
$9,759,273
Interest Rate
3.14%
Mortgage Type
Commercial
Purchase Details
Closed on
Dec 23, 2010
Sold by
C Doherty Rt and Doherty
Bought by
A & M Foreign Motors Llc
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| 400 Mystic Owner Llc | $15,900,000 | None Available | |
| A & M Foreign Motors Llc | $600,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | 400 Mystic Owner Llc | $10,500,000 | |
| Previous Owner | Charmed Life Llc | $9,000,000 | |
| Previous Owner | Charmed Life Llc | $9,000,000 | |
| Previous Owner | Charmed Life Llc | $2,750,000 | |
| Previous Owner | Charlmed Life Llc | $352,000 | |
| Previous Owner | Charmed Life Llc | $1,398,000 | |
| Previous Owner | A & M Foreign Motors Llc | $100,000 | |
| Previous Owner | C Doherty Rt | $82,000 | |
| Previous Owner | C Doherty Rt | $200,000 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/13/2021 12/13/21 | Sold | $15,900,000 | -5.1% | $1,590 / Sq Ft |
| 09/17/2021 09/17/21 | Pending | -- | -- | -- |
| 07/07/2021 07/07/21 | For Sale | $16,750,000 | -- | $1,675 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $0 | $12,622,800 | $3,374,300 | $9,248,500 |
| 2024 | $0 | $12,622,800 | $3,374,300 | $9,248,500 |
| 2023 | $0 | $12,833,300 | $1,574,300 | $11,259,000 |
| 2022 | $0 | $13,469,200 | $1,574,300 | $11,894,900 |
| 2021 | $0 | $13,249,600 | $517,200 | $12,732,400 |
| 2020 | $46,020 | $8,667,000 | $517,200 | $8,149,800 |
| 2019 | $0 | $2,735,200 | $492,600 | $2,242,600 |
| 2018 | $8,970 | $492,600 | $492,600 | $0 |
| 2017 | $11,721 | $492,600 | $492,600 | $0 |
| 2016 | $11,773 | $583,400 | $426,600 | $156,800 |
Source: Public Records
Agents Affiliated with this Home
-
Chris Sower
Map
Source: MLS Property Information Network (MLS PIN)
MLS Number: 72861340
APN: SOME M:69 B:C L:5
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.
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