$5,200,000 1-3 Beacon Street Somerville, MA

MLS: 73019764   Type: Multi-Family   County: Middlesex   City: Somerville   Area: Inman Square   Zip: 02143   Style: 5-9 Family   # Rooms: 24    Stories: 10   Taxes: $39,936

Mortgage $24,413 /mo

Beds

Baths

Half Baths

Sqr Footage

Lot Size

Built

16

8

0

6,812

5,663

1900

1-3 Beacon Street is a rare opportunity to acquire an iconic investment property in the heart of Inman Square generating $26,600 per month in rental income. The property is comprised of (2) ground-floor commercial tenants and (4) four-bedroom/2 bath apartments. Trina's Starlight Lounge and Parlor sports are two of the most popular businesses in the neighborhood and have been tenants since 2009. The apartments underwent full gut-rehabs with condo quality finishes which were completed in the Spring of 2022 and tenanted for the first time. This is a blue-chip asset in every sense of the word and a perfect safe-haven against inflation and the volatile stock market.

Elementary School

Middle School

High School

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Price History

8/1/2022 Listed $5,200,000

Basement Unfinished
Building Area Units Square Feet
Buyer Agent Compensation 1.5%
Buyer Agent Compensation Type %
City Somerville
Community Features Public Transportation, Shopping
Compensation Based On Gross/Full Sale Price
Construction Materials Frame
County Middlesex
Directions GPS
Facilitator Compensation N/A
Garage Spaces, Detached Garage 0
Garage Y/N No
Grossincome 340852
Lot Size Square Feet 5450
MLS Area Inman Square
Net Operating Income 270020
Operatingexpense 70832
Property SubType 5-9 Family
Property Type Residential Income
Roof Rubber
Sewer Public Sewer
Showing Instructions Call List Agent, Only Qualified Investors Will Be Allowed To Tour. Minimum 24hr Notice Required.
Standard Status Active
Status Active
Street Name Beacon Street
Sub-Agency Relationship Offered No
Tax Annual Amount 39936
Tax Year 2022
TaxAssessedValue 2370100
Total Actual Rent 26600
Total Rooms 24
Total Units 6
Waterfront Y/N No
Year Built 1900
Year Built Details Approximate
Yearbuiltsource Public Records
Zoning RC

Interior Features

Fireplace Y/N No
Full Baths 8
Half Baths 0
Total Baths 8
Total Bedrooms 16
Total Fireplaces 0
Total Stories 10

Exterior Features

Building Area Total 6812
Covered Spaces 0
Foundation Details Stone, Brick/Mortar
Lot Features Corner Lot
Lot Size Acres 0.13
Lot Size Area 0.13
Lot Size Units Acres
Total Parking 0
Water Source Public

Property Schools



Direct Link:

https://properties.gogallagher.com/property/3-73019764-1-3-Beacon-Street-Somerville-MA-02143

Gallery (13 photos)

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Property vs Zip Code Avg (02143)

Price 5.20M Avg 2.09M

Sqr Feet 6,812 Avg 3,836

Cost / Sqr Ft $763 Avg $546

Taxes $39,936 Avg $14,740

Acres 0.13 Avg 0.08

Visits 23 Avg 12

Days on Site 65 Avg 36

Walkscore® 96 Avg 90

Data Provided by Walkscore ® not using MLS data

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Listed By: Tony Pepdjonovic with Marcus & Millichap Real Estate Investment Services.




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Location & Address

Gallagher Real Estate
1763 Northampton St
Holyoke, MA
413-314-2694
413-532-7270