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366 Broadway
Somerville, MA. 02145-2812

Middlesex County
Area: Winter Hill
Directions: On Broadway At The Corner Of Broadway And Thurston

MLS # 72844921 - Under Agreement
Multi-Family 5-9 Family    

List Price $4,500,000 Days on Market  
List Date   # Units 35
Sale Price   # Floors  
Sold Date   Rooms 18
Assessed Value $1,532,700 Bedrooms 35
Gross Living Area 7,160SF Full Baths 35
Lot Size 13,495SF Half Baths 35
Taxes $25,581.00 Fireplaces  
Tax Year 2021 Basement No
Zoning RC Waterfront No
Est. Street Front   Beach Nearby No
Year Built 1975 Parking Spaces 18
    Garage Spaces 0

Remarks:

Somerville Winter Hill Rare Offering of a by right 35 unit residential development project. Currently used as a medical offices by FOUR tenants and has potential to be divided into EIGHT units. Located in a neighborhood business district please see new zoning for MR4 zone for possibility of developing into 35 residential units.property has potential for a variety of uses. Tenants and their clients enter directly off Broadway through a nicely tended landscape and foyer, and have direct access out the rear door to a large parking lot located directly behind the building. One of the units is currently vacant and was recently occupied by a large, successful dental practice that is relocating late this year. Buyer must do own due diligence. Seller makes no representations but believes that a 35 unit residential Development can be built at this site. Please do your own due diligence on the Development prospect of this amazing property. Please see analysis attached here. 1 unit vacant.

Features
Foundation   Poured
   Concrete
Foundation Size   50x50
Hot Water   Natural Gas
Lead Paint   Unknown
Lot   Corner
Parking   Off-Street
Road   Public
Sewer / Water   City/Town
   Sewer, City/Town Water
Units
Unit 1 Lease: No; Rent: 3300; Rooms: 6
Unit 2 Lease: No; Rent: 4167; Rooms: 6
Unit 3 Rent: 3729; Rooms: 6
Financial Info
Gross Oper. Income   $119,988 Net Oper. Income   $119,988
Additional Information
APOD Available?   No
Anticipated Sale Date  
   09/15/2021
Deed   Book: 12677, Page:
   191
Foreclosure   No
GLA Source   Public Record
Off Market Date   6/15/21
Parcel #   M:48 B:C L:2
Seller Disclosure Doc   No
Short Sale   No
Year Built Desc.  
   Approximate
Year Built Source   Public
   Record

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Property Last Updated by Listing Office: 6/15/21 8:22am

Courtesy: MLSPIN

Listing Office: RE/MAX Destiny Listing Agent: David Lilley


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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.