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Mount Vernon Street Apartments 54-80 Mount Vernon St 23 Unit Apartment Building For Sale Somerville, MA 02145
Investment Highlights
- Project Based Section 8
- Local Amenities Abound
- Excellent Area Employment
- Expiring HAP Contracts and Market-- Market to (M2M) Rent Adjustment
- Transit Oriented Location
Executive Summary
Cushman & Wakefield Multifamily Advisory group is pleased to present the opportunity to acquire The Mount Vernon Collection (54-60 and 80-82 Mount Vernon Street), a 23-unit, project-based Section 8, apartment portfolio located in Somerville, Massachusetts. The portfolio is comprised of two (2) beautiful brick buildings, 54-60 and 80-82 Mount Vernon Street. The portfolio offers three separate Section 8 contracts allowing for flexibility within the portfolio.
Strategically located in one of the most rapidly evolving neighborhoods in the Greater Boston area, the property is surrounded by multiple on-going and upcoming transformative developments, such as Assembly Row, Encore Boston Resort and Casino, Cambridge Crossing, Hood Park, and the Green Line Extension. Additionally, the property offers residents unparalleled transit options, including the MBTA – Orange Line at Sullivan Square (0.5mi +/-) and immediate access to multiple bus routes and I-93, located just steps from the asset.
Strategically located in one of the most rapidly evolving neighborhoods in the Greater Boston area, the property is surrounded by multiple on-going and upcoming transformative developments, such as Assembly Row, Encore Boston Resort and Casino, Cambridge Crossing, Hood Park, and the Green Line Extension. Additionally, the property offers residents unparalleled transit options, including the MBTA – Orange Line at Sullivan Square (0.5mi +/-) and immediate access to multiple bus routes and I-93, located just steps from the asset.
Property Facts
| Sale Type | Investment | Lot Size | 0.13 AC |
| No. Units | 23 | Building Size | 21,664 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 1900 |
| Building Class | C | ||
| Zoning | RB | ||
| Sale Type | Investment |
| No. Units | 23 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 21,664 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1900 |
| Zoning | RB |
Amenities
Unit Amenities
- Heating
- Oven
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 23 | - | 800 |
Exceptionally walkable
100/100
Moderately drivable
60/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,624,117 CAD | |
| Land Assessment | $981,816 CAD | Total Assessment | $2,605,933 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$981,816 CAD
Improvements Assessment
$1,624,117 CAD
Total Assessment
$2,605,933 CAD
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Mount Vernon Street Apartments | 54-80 Mount Vernon St
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