Broadway Residences is a newly-constructed, transit-oriented, mixed-use investment property located at the corner of Broadway and Mt Pleasant Street in Somerville, Massachusetts. The subject property is comprised of a brand-new, five-story apartment building and three adjacent buildings that were gut-renovated in 2015 as part of the development (collectively, the GÇ£PropertyGÇ¥). The Property contains a total of 19 residential units, 5 street-level retail suites and new, onsite, garage parking. The transit-oriented development is extremely well located in the East Somerville neighborhood, just steps from the MBTAGÇÖs Sullivan Square Station, and within walking distance to the popular shopping, dining, fitness and entertainment options at Assembly Row.
Turnkey, solid three family with an additional barn and studio space presenting major untapped income located in the heart of East Somerville. At the open house this Sunday you will notice great, condo ready floor layouts, updated kitchen and baths, and updated heating and hot water systems. At the end of a long paved driveway is a converted barn that has garage parking and an artists studio above that is currently rented for $350/month. There is also a semi-finished space in the basement that may present additional revenue generating opportunities. The property offers the new buyer three good tenants with leases ending August 2019! Each of the units has individual utilities including sub-metered water/sewer, each has their own front and rear porches, and each share common coin-op laundry in the basement. Income and expense information is available.
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