134 Pearl St Somerville, MA 02145

Property Details for 134 Pearl St

Year built

1900

Property size

3,725 SF

Property type

Commercial real estate

Description

This exceptional five-unit apartment building at 134 Pearl Street in Somerville, MA, presents a compelling value-add investment opportunity. Located in a rapidly growing neighborhood, approximately half a mile from the Gilman Square and East Somerville Green Line stations, this property offers convenient access to public transportation. The building, constructed in 1900, comprises three stories and encompasses 3,725 square feet on a 3,718 square foot lot. The property includes two parking spaces, a significant advantage in this area. The unit mix is diverse, featuring two one-bedroom units, two two-bedroom units, and one three-bedroom unit, providing flexibility for potential rental strategies. With an asking price of $1,750,000, this translates to $469.80 per square foot and $350,000 per unit. The property's location near higher education institutions and desirable amenities further enhances its investment potential. This is a rare chance to acquire a well-situated multifamily property in a thriving Somerville submarket experiencing significant new development. The property's potential for renovation and increased rental income makes it an attractive option for both owner-users and investors seeking a value-add opportunity. The building's solid foundation and established tenancy provide a stable base for future growth and returns.