56-58 Walnut St. & 4-6 Pleasant Ave.

    Somerville, MA 02143
    • $9,000,000
    • STATUS: Active
    • MLS #: 72660222
    UPDATED: 29 min ago
    $9,000,000
    • 26
      BEDS
    • 0.44
      ACRES
    • 22
      BATHS
    • 0
      1/2 BATHS
    • 16,229
      SQFT
    • $555
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1890
    County:
    Area:

    School Ratings & Info

    Listing courtesy of Adam Umina of Metro Realty Corp..

    Description

    The Hollander Block consists of two majestic Queen Anne buildings on the corner of Walnut St & Pleasant Ave on Prospect Hill in Union Sq, one of the fastest growing neighborhoods in Somerville. This rare asset consists of 22 apartments - 20 one bed & 2 three bed units. The property is conveniently located just 3 blocks from bustling Union Sq, soon to be home to the new Green Line extension. The neighborhood boasts many great shops & restaurants including the recently established Bow Market. The Union Square Redevelopment has added to the upward trajectory that Union Sq has been experiencing and is poised to add 2.4 million sqft of office, retail and lab space. All leases are ending on varying dates in the summer of 2020, producing annual gross income of $525,000 with projected annual gross income of $591,000. There is significant value add opportunity through cosmetic updates and basic living area optimization. Rubber roofs replaced in 2002 & 2014, gas heat conversion in 2008.

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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 2020-06-01T07:11:02.297.
    www.westcottproperties.com/homes/106116149

    56-58 Walnut St. & 4-6 Pleasant Ave. Somerville, MA 02143

    • Price: $9,000,000
    • Status: Active
    • Updated: 29 min ago
    • MLS #: 72660222
    26
    Beds
    22
    Baths
    0
    ½ Baths
    0.44
    Acres
    16,229
    SQFT
    $555
    $/SQFT
    1890
    Built
    Neighborhood:
    Union Square
    County:
    Middlesex
    Area:
    Union Square
    Property Description
    The Hollander Block consists of two majestic Queen Anne buildings on the corner of Walnut St & Pleasant Ave on Prospect Hill in Union Sq, one of the fastest growing neighborhoods in Somerville. This rare asset consists of 22 apartments - 20 one bed & 2 three bed units. The property is conveniently located just 3 blocks from bustling Union Sq, soon to be home to the new Green Line extension. The neighborhood boasts many great shops & restaurants including the recently established Bow Market. The Union Square Redevelopment has added to the upward trajectory that Union Sq has been experiencing and is poised to add 2.4 million sqft of office, retail and lab space. All leases are ending on varying dates in the summer of 2020, producing annual gross income of $525,000 with projected annual gross income of $591,000. There is significant value add opportunity through cosmetic updates and basic living area optimization. Rubber roofs replaced in 2002 & 2014, gas heat conversion in 2008.
    Exterior Features

    Beachfront No Construction Frame Exterior Clapboard Exterior Features Porch Foundation Fieldstone Lot Description Corner Parking Spaces 0 Road Type Public Roof Material Rubber Waterfront Flag No Waterview Flag No

    Interior Features

    Basement Yes Basement Features FullUnfinished Basement Bedrooms Unit1 1 Bedrooms Unit2 1 Fireplaces 6 Fireplaces Unit1 0 Fireplaces Unit2 0 Flooring Wood Floors Unit1 1 Floors Unit2 2 Full Baths Unit1 1 Full Baths Unit2 1 Half Baths Unit1 0 Half Baths Unit2 0 Heating Common Central Heat Hot Water Natural Gas Levels 4 Levels Unit1 1 Levels Unit2 1 Rooms 6 Rooms Unit1 3 Rooms Unit2 3

    Property Features

    Adult Community No Amenities Public TransportationShoppingParkLaundromatBike PathHighway AccessHouse Of WorshipPublic SchoolT-StationUniversityOther (See Remarks) Apod Available Yes Assessments 4641100.00 Disclosure No Disclosures 22 Units Total - See Attached Complete List Of 14 Matterport 3D Virtual Tours Electric Features Circuit Breakers Expenses Source Owner Provided Expenses Year End 12/19 Gross Operating Income 525000 Lead Paint Certified TreatedUnknown Lease Unit1 Y Lease Unit2 Y Lender Owned No Multifamily Type 5+ Family - 5+ Units Up/Down Net Operating Income 421195 Rent Unit1 1825 Rent Unit2 1950 Sewer City/Town Sewer Short Sale Lender App Required No Sq Ft Source Public Record Tax Year 2020 Taxes 6202400.00 Warranty No Water City/Town Water Year Built Description Approximate Year Built Source Public Record Year Round Yes Zoning Res

    Listing information © 2020 MLS Property Information Network. All information is deemed reliable but should be independently verified.
    Listing provided courtesy of Adam Umina of Metro Realty Corp..


    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 2020-06-01T07:11:02.297.
     
    Westcott Properties
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    Listing courtesy of Adam Umina of Metro Realty Corp..