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The Warwick 13 Warwick St 27 Unit Apartment Building $23,032,681 CAD ($853,062 CAD/Unit) 5.15% Cap Rate Somerville, MA 02145
INVESTMENT HIGHLIGHTS
- New Construction
- Condo Quality Finishes
- #1 Builders in the Somerville Market
EXECUTIVE SUMMARY
EXCLUSIVE OPPORTUNITY AT 13 WARWICK STREET: A newly built 28-unit rental property in Somerville’s prime Spring Hill neighborhood—just 15 minutes from downtown Boston and close to Davis Square. Developed by SMT Development and Prominent Builders, who have completed 100+ projects in Somerville, the building offers condo-quality finishes and a unit mix of 10 studios, 2 one-bedrooms, 13 two-bedrooms, and 2 three-bedrooms, including 23 market-rate and 5 affordable units. Additional highlights include 11 garage parking spaces, a projected rent roll of $91,500 per month, and annual income potential of $1.1M. Located just a 5-minute walk to the Green Line T stop, the property will be delivered 100% complete with a certificate of occupancy expected in February 2026. CALL FOR OFFERS: December 15th. Construction plans are available in the MLS documents; financials are available upon request.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,535,512
|
$38.62
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$1,535,512
|
$38.62
|
| Taxes |
-
|
-
|
| Operating Expenses |
$348,980
|
$8.78
|
| Total Expenses |
$348,980
|
$8.78
|
| Net Operating Income |
$1,186,532
|
$29.84
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,535,512 |
| Annual Per SF | $38.62 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,535,512 |
| Annual Per SF | $38.62 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $348,980 |
| Annual Per SF | $8.78 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $348,980 |
| Annual Per SF | $8.78 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $1,186,532 |
| Annual Per SF | $29.84 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Patio
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Smoke Free
- Walking/Biking Trails
- Roof Terrace
- Elevator
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 10 | $3,874 CAD | 450 - 550 |
| 1+1 | 2 | $4,355 CAD | 600 |
| 2+2 | 13 | $5,828 CAD | 800 - 1,030 |
| 3+2 | 2 | $7,678 CAD | 1,030 |
1 1
Walk Score®
Very Walkable (89)
Transit Score®
Excellent Transit (80)
Bike Score®
Biker's Paradise (99)
PROPERTY TAXES
| Parcel Number | SOME-000033-F000000-000002 | Total Assessment | $4,090,484 CAD (2025) |
| Land Assessment | $2,356,334 CAD (2025) | Annual Taxes | $0 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,734,150 CAD (2025) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Number
SOME-000033-F000000-000002
Land Assessment
$2,356,334 CAD (2025)
Improvements Assessment
$1,734,150 CAD (2025)
Total Assessment
$4,090,484 CAD (2025)
Annual Taxes
$0 CAD ($0.00 CAD/SF)
Tax Year
2026
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The Warwick | 13 Warwick St
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