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7 Washington Street
Somerville, MA. 02143


MLS # 72800291 - Active
Multi-Family 5-9 Family    

List Price $1,950,000 Days on Market  
List Date   # Units 10
Sale Price   # Floors  
Sold Date   Rooms 9
Assessed Value $673,800 Bedrooms 17
Gross Living Area 10,501SF Full Baths 12
Lot Size 3,262SF Half Baths 0
Taxes $6,798.64 Fireplaces  
Tax Year 2021 Basement Yes
Zoning MR4 Waterfront No
Est. Street Front   Beach Nearby No
Year Built 2021 Parking Spaces 0
    Garage Spaces 0

Remarks:

Rare opportunity to develop a AS OF RIGHT 10 unit residential building blocks away from the Green Line extension. Architects full submittal package ready to be filed with city. Comprised of four high efficiency one bedrooms, five two bedrooms and a parlor duplex three bedroom. Well laid out, open concept units designed for the way we want to live. Viable for condo sales with an expected sellout of 6.3+M, or hold as a rental building with strong potential NOI and CAP rate while the area continues to develop around the green line extension. The extension has a Washington St Stop, which is less than .4 miles away. Only a mile away from bustling Assembly Row. Located in an opportunity zone, allowing for the potential for deferral or reduction of future capital gains. 6 unit as of right with 4 units added through net zero build. See brochure for additional details.

Features
Foundation   Poured
   Concrete
Lead Paint   Unknown
Lot   Paved Drive
Roof   Rubber
Sewer / Water   City/Town
   Sewer, City/Town Water
Warranty   No
Units
Unit 1 Bedrooms: 3; Floor: 1; Full Baths: 2; Lease: No; Levels: 2; Rooms: 6
Unit 2 Bedrooms: 2; Floor: 2; Full Baths: 1; Lease: No; Levels: 1; Rooms: 3
Additional Information
APOD Available?   No
Deed   Book: 71671, Page:
   215
Disclosures   This project
   will not be sold with
   permits in place. it is
   an as of right 10 unit
   with a current single
   family on the lot that
   rents for 3000 a month
   which can be delivered
   vacant or with tenant in
   place.
Foreclosure   No
GLA Source   Owner
Living Area Disclosures  
   unit total 7828 building
   total 10501
Seller Disclosure Doc   No
Short Sale   No
Year Built Desc.   To Be
   Built
Year Built Source   Owner

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Property Last Updated by Listing Office: 4/8/21 10:46am

Courtesy: MLSPIN

Contact agent for more information about this listing
Listing Office: Leading Edge Real Estate Listing Agent: Ramsay and Company


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The information in this listing was gathered from third party resources including the seller and public records. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations or warranties as to the accuracy of this information.