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Key Details
Sold Price $1,070,000
Property Type Multi-Family
Sub Type 2 Family - 2 Units Up/Down
Listing Status Sold
Purchase Type For Sale
Square Footage 2,403 sqft
Price per Sqft $445
MLS Listing ID 72378559
Sold Date 03/28/19
Bedrooms 6
Full Baths 2
Half Baths 1
Year Built 1900
Annual Tax Amount $6,485
Tax Year 2018
Lot Size 4,791 Sqft
Acres 0.11
Property Sub-Type 2 Family - 2 Units Up/Down
Property Description
Development or Owner Occupied Opportunity! Take this 2 Unit with a large lot and add a 3rd unit after passing special permit process*. In 2017 and 2018 condos on Myrtle Street have sold for $700k, $745k, and $782k. After adding 3rd unit you could potentially sell each condo for $650K each (or more). At $650K each you would have a total retail value of $1,950,000. This leaves plenty of room for construction and profit. Seller is looking for an offer that is not contingent upon approval for 3rd unit. (We are told by the planning department that it is very likely to pass but it will take approx. 2-3 months to complete). *Even though it is likely, seller and broker do not guarantee any change of unit number or values stated above. Buyer to buy as is and do their own due diligence.* 1st floor has tenants that are month to month. Showings only at Open Houses Sat and Sun 12-2pm. Offers due by Tuesday at 3pm. Seller will respond to any and all offers Wednesday by 3pm.
Location
State MA
County Middlesex
Zoning RB
Direction Sullivan Square to Cambridge/Washington Street, to Myrtle Street
Rooms
Basement Full, Partially Finished, Interior Entry, Bulkhead, Concrete
Interior
Interior Features Unit 1 Rooms(Living Room, Kitchen), Unit 2 Rooms(Living Room, Dining Room, Kitchen)
Heating Unit 1(Hot Water Radiators, Gas), Unit 2(Hot Water Radiators, Gas)
Cooling Unit 1(None), Unit 2(None)
Flooring Wood, Tile
Appliance Unit 1(Range, Dishwasher, Microwave, Refrigerator), Unit 2(Range, Dishwasher, Microwave, Refrigerator, Washer, Dryer), Gas Water Heater, Utility Connections for Gas Range, Utility Connections for Electric Dryer
Laundry Washer Hookup
Exterior
Exterior Feature Storage
Fence Fenced/Enclosed
Community Features Public Transportation, Shopping, Park, Walk/Jog Trails, Medical Facility, Highway Access, House of Worship, Private School, Public School, T-Station
Utilities Available for Gas Range, for Electric Dryer, Washer Hookup
Roof Type Shingle
Total Parking Spaces 5
Garage No
Building
Story 3
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Schools
Elementary Schools East Somerville
Middle Schools East Somerville
High Schools Somerville
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Bought with Branch Out Residential Team • Branch Out Realty