Unit Information
**$247,782 Proforma NOI** The School Street Apartments is a 9-unit apartment complex located in the heart of Somerville near Union Square, featuring (6) 2-bedroom, 1-bathroom, (2) 3-bedroom, 2-bathroom, and (1) 1-bedroom, 1-bathroom units. There is a value-add opportunity at the property to perform light unit updates and raise rents to competitive market levels. Also available (not included in 5-9 School St price) is the 2 Quincy Street lot, an abutting development site of 0.14 acres under Somerville’s “Urban Residence (UR)” zoning, which allows one apartment building by right. Current ownership has plans drawn up for a 20-unit building with 4 floors. Less than a half mile from both the Porter Square and Gilman Square T-stops on the Green Line and Commuter Rail, and steps away from MBTA Bus Routes on Somerville Ave, the property offers direct access to employment centers in Downtown Boston, Somerville, and Cambridge.
- Additional Details
- Status: NEW
- Type: Multi-Family, 5-9 Family
- Zip Code: 02143
- Living Levels: 4
- Rooms and Dimensions
- Total Units: 9
- Total Floors: 4
- Total Rooms: 99
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$3,995,000
- Status: New
- Listing ID: 73303433
- Bedrooms: 19
- Full Baths: 11
- Living Area: 7,000 sqft Convert
- Lot Size: 4,356 sqft Convert
- Acres: 0.1
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Luxury Residential Group
(617) 233-5800
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LRG Luxury Residential Group | 355 Boylston St, Boston MA 02116 | (617) 233-5800 | |