Prime investment opportunity in bustling Union Square! This 12-unit apartment property with 16 parking spaces is a cash flowing dream property! Immediately proximate to the new Union Square train station and significant area improvements to infrastructure, commercial property, and community spaces. All apartments are presently graciously sized two bedrooms, mostly updated, several with in-unit laundry (coin-ops also in basement). The current leasing season is supporting projected gross rents of approximately$580, 000.Historical operating expenses of about$65, 000.Projected NOI from operations of$515, 000! Projected gross rents based on units renting at$3, 950and 4 parking spaces at $300. Private showings for qualified buyers only.
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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.