152 Cross St Somerville, MA 02145

Property Details for 152 Cross St

Year built

1900

Lot size

0.05 lot acres

Property size

5,467 SF

Property type

Commercial real estate

Description

This exceptional three-story, six-unit apartment building at 152 Cross Street in Somerville, MA, presents a compelling investment opportunity. Built in 1900 and boasting 5,467 square feet on a 0.05-acre lot, this Class B property is situated in a highly desirable neighborhood, offering excellent visibility and convenient access to shops, restaurants, parks, and public transportation. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $92,371, resulting in a 4.86% capitalization rate. Recent upgrades include four new heating systems, all new water heaters, and a brand-new roof, minimizing future maintenance expenses. The asking price is $1,900,000, translating to $347.54 per square foot and $316,666.67 per unit. The property is zoned UR, providing potential for future development or expansion. All six units are currently occupied by tenants at will. This prime location in Middlesex County, zip code 02145, offers investors a strong cash flow and significant potential for appreciation. The property's financial performance and desirable location make it an attractive investment for both seasoned and new investors.