This meticulously maintained three-family building boasts a prime location and is fully leased to a vibrant community of young professionals. Additionally, it features coveted retail space on the ground floor, across from Somerville Hospital, offering endless possibilities for entrepreneurial ventures. Key Features: Fully Leased: Enjoy immediate returns on your investment with all three residential units occupied by young professionals. This ensures a steady stream of rental income from day one. Prime Location: Situated in the heart of Somerville, this property benefits from the bustling atmosphere of Highland Ave. With convenient access to public transportation, restaurants, and amenities, it attracts tenants seeking convenience and lifestyle. RETAIL SPACE: The first floor presents an exciting opportunity for retail businesses to thrive across from Somerville Hospital. Whether it's a cozy cafe, boutique shop, or professional office, this versatile space offers endless pot
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Last Updated: June 11th, 2024 at 8:52am
General Information for 241 Highland Ave, Somerville, Massachusetts 02143
Property TypeResidential Income
Property Sub TypeMulti Family
Price$1,790,000
Price per sqft$421.47
MLS #73221310
Handicap Access / FeaturesNo
List Date2024-04-08
Special Listing Conditions
StateMassachusetts
Street NameHighland Ave
CitySomerville
Zip Code02143
CountyMiddlesex
MLS Status
Covered Parking Spaces1
Heating Y/NYes
Heating System
Heat Zones
Sold Date
Property Sub TypeMulti Family
Building Area SourcePublic Records
Building Area Total4247
Building Area Units0
CarportNo
Close Date
Close Price$0
Covered Parking Spaces1
Listing Service
UnparsedAddress241 Highland Ave, Somerville MA 02143
Zoning
Interior Features for 241 Highland Ave, Somerville, Massachusetts 02143
* Approx. Living Area Total4,247 sq ft
Living Area Includes BasementNo
Bedrooms5
* # Fireplaces0
Bathrooms (Total)3
Full Baths3
* # Half Baths0
* # Rooms
Basement
Heating System
Appliances
Electric
Living Area Disclosure
Living Area Includes BasementNo
Door Features
ElectricNo
Electric$0
MLS Area (Major)
MLSPIN_BEDRMS_12
MLSPIN_BEDRMS_21
MLSPIN_BEDRMS_32
MLSPIN_BEDRMS_40
MLSPIN_FLRS_1
MLSPIN_FLRS_2
MLSPIN_FLRS_3
MLSPIN_FLRS_4
MLSPIN_F_BTHS_11
MLSPIN_F_BTHS_21
MLSPIN_F_BTHS_31
MLSPIN_F_BTHS_40
MLSPIN_GRE$0
MLSPIN_HTE$0
MLSPIN_H_BTHS_10
MLSPIN_H_BTHS_20
MLSPIN_H_BTHS_3 0
MLSPIN_H_BTHS_4
OffMarketDate
Exterior Features for 241 Highland Ave, Somerville, Massachusetts 02143
* Approximate Lot Size0.07 acres
Covered Parking Spaces1
Lot Features
* Parking Spaces1
* Sewer Utilities
* Water Utilities
* Year Built1900
Year Built Details
Year Built SourcePublic Records
Construction Materials
Exterior Features
Foundation Area
Foundation MaterialsConcrete Perimeter
Approx. Street Frontage
Horse PermittedNo
Horse Amenities
Parking Features
Utilities
Lot Size (Square Feet)3,236 Sqft
Disclosures for 241 Highland Ave, Somerville, Massachusetts 02143
Buyer Agent Compensation2
Contingency
Financing
Disclosures
Documents Available
Exclusions
MLSPIN_COMP_BASED_ONNet Sale Price
MLSPIN_COOP_COMP
MLSPIN_DISCLOSUREY
Lead PaintUnknown
Living Area Disclosure
Living Area Includes BasementNo
Facilitator Compensation1
TransactionBrokerCompensationType
BuyerAgencyCompensationType
Financial Information for 241 Highland Ave, Somerville, Massachusetts 02143
Assessed Value
Real Estate Tax$0
Tax Year
Financial Data Source
Gross Income$92,400
Insurance Expense$0
MLSPIN_LEASE_1
MLSPIN_LEASE_2
MLSPIN_LEASE_3
MLSPIN_LEASE_4
MLSPIN_LEVELS_12
MLSPIN_LEVELS_23
MLSPIN_LEVELS_34
MLSPIN_LEVELS_4
MLSPIN_MGF$0
MLSPIN_MSE$0
MLSPIN_RENT12900
MLSPIN_RENT22600
MLSPIN_RENT32700
MLSPIN_RENT45000
MLSPIN_RFS$0
MLSPIN_RME$0
MLSPIN_SOLD_PRICE_PER_SQFT$0
NetOperatingIncome$88,200
OperatingExpense$0
OriginalListPrice$1,800,000
RENT_FEE_INCLUDES
TOTAL_RENT13200
WaterSewerExpense$0
Lifestyle Information for 241 Highland Ave, Somerville, Massachusetts 02143
FireplaceYNNo
Frontage Type
GarageYNNo
Waterview
Pool Features
Waterfront Features
Location information for 241 Highland Ave, Somerville, Massachusetts 02143
Elementary School
Middle School
High School
NumberOfUnitsTotal4
Marketing History for 241 Highland Ave, Somerville, Massachusetts 02143
MLSPIN_MARKET_TIME_BROKER63
MLSPIN_MARKET_TIME_PROPERTY63
PurchaseContractDate
Agent Information for 241 Highland Ave, Somerville, Massachusetts 02143