497 Broadway
- 14,702 SF mixed-use building
- 7 total units with 3 commercial units & 4 residential units
- Built in 1900 with historic charm
- Zoned MR4 for versatile development options
- Prime location in the heart of Magoun Square
- 100% occupancy with immediate income potential
Property Description
Introducing a compelling opportunity for multifamily and mid-rise investors, 497 Broadway in Somerville, MA presents a 14,702 SF mixed-use building. Boasting seven units, including three commercial units and four residential units, this property is strategically located in the heart of Magoun Square. Built in 1900 (public record) and zoned MR4, the building currently enjoys a robust 100% occupancy, offering immediate income potential. With its versatile composition and prime positioning, this property holds significant promise for potential NOI growth, making it an enticing prospect for investors seeking to tap into the dynamic multifamily and mid-rise market in the Boston area.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $3,800,000 |
| No. of Units: | 7 |
| Year Built: | 1900 |
| Lot Size: | 0.04 Acres |
| Opportunity Zone: | No |
| Price per unit: | $542,857 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout