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Image 1 - 1;3 Beacon Street, Somerville, MA 02143, USA - House for sale
Image 2 - 1;3 Beacon Street, Somerville, MA 02143, USA - House for sale
Image 3 - 1;3 Beacon Street, Somerville, MA 02143, USA - House for sale
Image 4 - 1;3 Beacon Street, Somerville, MA 02143, USA - House for sale
Image 5 - 1;3 Beacon Street, Somerville, MA 02143, USA - House for sale
Image 6 - 1;3 Beacon Street, Somerville, MA 02143, USA - House for sale
Image 7 - 1;3 Beacon Street, Somerville, MA 02143, USA - House for sale
Image 8 - 1;3 Beacon Street, Somerville, MA 02143, USA - House for sale
Image 9 - 1;3 Beacon Street, Somerville, MA 02143, USA - House for sale
Home For Sale In Somerville, Massachusetts
1;3 Beacon Street, Somerville, MA 02143, USA

Home For Sale In Somerville, Massachusetts

house for sale
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Listed: 04/21/24

1;3 Beacon Street, Somerville, MA 02143, USA

16 Bed:
8 Bath:
6,812 Sq Ft Living Area:
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Price
$ 4,6M

About This House

One Beacon, 6.31% cap rate with rental upside, is a turn-key asset exceptionally located in Somervilles 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, Trinas Starlite Lounge and Parlor Sports (both leased by one tenant), recently extended their lease for 5-years (through August31, 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.

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Union Square Housing & Living

Household Income

Median household income: $84,722
Number of households: 32,453
The average household income in Somerville, MA grew from $78,673 to $84,722 in the past year. This data is an estimate based upon 32,453 households in Somerville, MA.
The chart below presents how household income is distributed in Somerville, MA in comparison to the revenue allocation amid households nationally.

Property Taxes

Average range: $3k+
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Somerville, MA compared to median property taxes around the country. The prevalent amount of property taxes in Somerville, MA equals $3k+ , which is more than the national average.