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491-497 Broadway Apartment Building $5,285,040 CAD Somerville, MA 02145
Investment Highlights
- Mixed Use Building in Magoun Square
- 100% Occupancy
- 7 Total Units, 4 Residential, 3 commercial
Executive Summary
Introducing a compelling opportunity for multifamily and mid-rise investors, 497 Broadway in Somerville, MA presents a 14,702 SF mixed-use building. Boasting seven units, including three commercial units and four residential units, this property is strategically located in the heart of Magoun Square. Built in 1900 (public record) and zoned MR4, the building currently enjoys a robust 100% occupancy, offering immediate income potential. With its versatile composition and prime positioning, this property holds significant promise for potential NOI growth, making it an enticing prospect for investors seeking to tap into the dynamic multifamily and mid-rise market in the Boston area.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $5,285,040 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Property Type | Multifamily | Building Size | 14,702 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1900 |
| Zoning | C1 - Commercial | ||
| Price | $5,285,040 CAD |
| Sale Type | Investment |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 14,702 SF |
| No. Stories | 3 |
| Year Built | 1900 |
| Zoning | C1 - Commercial |
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Exceptionally walkable
100/100
Fairly drivable
50/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | MEDF-000010-000000-Z000010 | Improvements Assessment | $1,191,280 CAD |
| Land Assessment | $815,771 CAD | Total Assessment | $2,007,050 CAD |
Property Taxes
Parcel Number
MEDF-000010-000000-Z000010
Land Assessment
$815,771 CAD
Improvements Assessment
$1,191,280 CAD
Total Assessment
$2,007,050 CAD
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491-497 Broadway
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