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One Beacon, 6.41% cap rate with rental upside, is a turn-key asset exceptionally located in Somerville’s Inman Square neighborhood on the Cambridge border. The Property contains six units consisting of (4) 4-Bedroom/2-Bathroom units and two commercial units. The Property is fully leased and has undergone extensive interior unit renovations featuring condo quality finishes in the residential units including new kitchens with custom cabinets, quartz counter tops and stainless-steel appliances, updated bathrooms with new tile flooring and high-end fixtures, vinyl plank floors as well as new forced hot air and central air-conditioning systems and Navien tankless hot water systems. The commercial tenant, Trina’s Starlite Lounge and Parlor Sports (both leased by one tenant), recently extended their lease for 5-years (through August 31, 2029) and reimburse their pro-rata share of Real Estate Taxes, Insurance and Utilities. Common laundry for tenants is located on the 2nd and 3rd floor.

MLS Listing ID: 73226159
Listing Price: $4,600,000
Listing Status: Active [?]
Neighborhood: Inman Square
Property Type: Multi Family
Bedrooms: 16
Full Baths: 8
Living Space: 6812 sf.
Lot Size: 0.13 acres (5662 sf.)
Parking: Yes
Taxes: $30,909.00

Listing Current as of May 26, 2024 12:00am

This listing brought to you by John Pentore of Horvath & Tremblay.

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