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    7 Washington Street

    Somerville, MA 02143
    • $1,950,000
    • STATUS: Active
    • MLS #: 72800291
    UPDATED: 35 min ago
    $1,950,000
    • 17
      BEDS
    • 0.07
      ACRES
    • 12
      BATHS
    • 0
      1/2 BATHS
    • 10,501
      SQFT
    • $186
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2021
    County:

    School Ratings & Info

    Listing courtesy of Ramsay And Company of Leading Edge Real Estate.

    Description

    Rare opportunity to develop a AS OF RIGHT 10 unit residential building blocks away from the Green Line extension. Architects full submittal package ready to be filed with city. Comprised of four high efficiency one bedrooms, five two bedrooms and a parlor duplex three bedroom. Well laid out, open concept units designed for the way we want to live. Viable for condo sales with an expected sellout of 6.3+M, or hold as a rental building with strong potential NOI and CAP rate while the area continues to develop around the green line extension. The extension has a Washington St Stop, which is less than .4 miles away. Only a mile away from bustling Assembly Row. Located in an opportunity zone, allowing for the potential for deferral or reduction of future capital gains. 6 unit as of right with 4 units added through net zero build. See brochure for additional details.

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    The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2021-04-16T15:09:52.69.
    www.livecharlesgate.com/homes/115238798
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    7 Washington Street Somerville, MA 02143

    • Price: $1,950,000
    • Status: Active
    • Updated: 35 min ago
    • MLS #: 72800291
    17
    Beds
    12
    Baths
    0
    ½ Baths
    0.07
    Acres
    10,501
    SQFT
    $186
    $/SQFT
    2021
    Built
    Neighborhood:
    East Somerville
    County:
    Middlesex
    Area:
    East Somerville
    Property Description
    Rare opportunity to develop a AS OF RIGHT 10 unit residential building blocks away from the Green Line extension. Architects full submittal package ready to be filed with city. Comprised of four high efficiency one bedrooms, five two bedrooms and a parlor duplex three bedroom. Well laid out, open concept units designed for the way we want to live. Viable for condo sales with an expected sellout of 6.3+M, or hold as a rental building with strong potential NOI and CAP rate while the area continues to develop around the green line extension. The extension has a Washington St Stop, which is less than .4 miles away. Only a mile away from bustling Assembly Row. Located in an opportunity zone, allowing for the potential for deferral or reduction of future capital gains. 6 unit as of right with 4 units added through net zero build. See brochure for additional details.
    Exterior Features

    Beachfront No Foundation Poured Concrete Lot Description Paved Drive Parking Spaces 0 Roof Material Rubber Waterfront Flag No

    Interior Features

    Basement Yes Bedrooms Unit1 3 Bedrooms Unit2 2 Fireplaces 0 Fireplaces Unit1 0 Fireplaces Unit2 0 Floors Unit1 1 Floors Unit2 2 Full Baths Unit1 2 Full Baths Unit2 1 Half Baths Unit1 0 Half Baths Unit2 0 Levels 4 Levels Unit1 2 Levels Unit2 1 Rooms 9 Rooms Unit1 6 Rooms Unit2 3

    Property Features

    Apod Available No Assessments 673800.00 Disclosure No Disclosures This Project Will Not Be Sold With Permits in Place. it is An As Of Right 10 Unit With A Current Single Family On The Lot That Rents For 3000 A Month Which Can Be Delivered Vacant Or With Tenant in Place. Lead Paint Unknown Lease Unit1 N Lease Unit2 N Lender Owned No Multifamily Type 5-9 Family Rent Unit1 0 Rent Unit2 0 Sewer City/Town Sewer Short Sale Lender App Required No Sq Ft Disclosures Unit Total 7828 Building Total 10501 Sq Ft Source Owner Tax Year 2021 Taxes 6798.64 Warranty No Water City/Town Water Year Built Description To Be Built Year Built Source Owner Year Round Yes Zoning Mr4

    Listing information © 2021 MLS Property Information Network. All information is deemed reliable but should be independently verified.
    Listing provided courtesy of Ramsay And Company of Leading Edge Real Estate.


    The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2021-04-16T15:09:52.69.
     
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    Charlesgate Realty Group
    867 Boylston Street, Fl 3
    Boston MA, 02116
    Listing courtesy of Ramsay And Company of Leading Edge Real Estate.