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$4,600,000
Total Beds: 16 Total Baths: 8
Total Units: 6 SQFT: 6812
LOT size: 0.13 Acres
1 Beacon St
Somerville, MA 02143
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Property Description

One Beacon, 6.41% 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.

Property Details

Building Information

  • Total Units: 6
  • Total Floors: 10
  • Total Bedrooms: 16
  • Total Full Baths: 8
  • Amenities: Highway Access, House of Worship, Laundromat, Medical Facility, Park, Private School, Public School, Public Transportation, Shopping, Swimming Pool, Tennis Court, T-Station, University, Walk/Jog Trails
  • Basement Features: Unfinished Basement
  • Common Appliances: Dryer, Washer
  • Common Heating: Forced Air, Oil
  • Common Cooling: Central Air

Financial

  • APOD Available: Yes
  • Gross Operating Income: 364948
  • Gross Expenses: 69983
  • Net Operating Income: 294966

Utilities

  • Electric Info: Individually Metered
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Unit 2 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Unit 3 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 3
  • Levels: 1

Unit 4 Description

  • Included in Rent: Water
  • Under Lease: Yes
  • Floors: 3
  • Levels: 1

Construction

  • Year Built: 1900
  • Type: 5-9 Family
  • Foundation Info: Other (See Remarks)
  • Roof Material: Rubber
  • Lead Paint: Unknown
  • Warranty: No

Other Information

  • MLS ID# 73226159
  • Last Updated: 05/01/24

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Map

Seller's Representative: John Pentore, Horvath & Tremblay
Sub Agent Compensation: n/a
Buyer Agent Compensation: 2%
Facilitator Compensation: 0
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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MLS PIN data last updated at 2024-05-01 14:30:00