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BIlly Pozo

bpozo@theomteam.com +1(978) 360-3069

$ 2,288,000

Est. payment | -/mo

11 Beds

5 Baths

3,280 SqFt

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$ 2,288,000

Est. payment | -/mo

Save Virtual Tour Video Tour

11 Beds

5 Baths

3,280 SqFt

Key Details

Property Type Multi-Family

Sub Type 3 Family

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 3,280 sqft

Price per Sqft $697

MLS Listing ID 73589869

Bedrooms 11

Full Baths 5

Year Built 1900

Annual Tax Amount $20,262

Tax Year 2026

Lot Size 3,484 Sqft

Acres 0.08

Property Sub-Type 3 Family

Property Description

Exceptional Three-Family Investment Opportunity Directly Across from Tufts University!Ideally situated on highly desirable College Avenue, this well-maintained three-family property offers 11 bedrooms, 5 bathrooms, and an outstanding opportunity to acquire an established income-producing investment property in one of Somerville's most sought-after rental locations.Currently generating $167,100 in annual rental income for 2026–2027, with contracted income increasing to $170,700 for 2027–2028, the property is leased through May 2028, providing immediate cash flow and income stability, with leases extending through May 2028. With two units renewed at existing rental rates, there is additional potential for future rental growth.Proudly owned and maintained by the same owner for over 32 years, this property has enjoyed a longstanding history of consistent occupancy and dependable rental income. The features include updated kitchens and bathrooms, beautiful hardwood floors, inviting front and rear porches, basement laundry facilities, generous storage space, and off-street tandem parking for at least three vehicles. New windows — 2023 and New Chimney liners.An additional investment advantage is the property's separately metered utilities. Each apartment has separate gas, electric, and water meters, along with individual heating and hot water systems. Tenants pay their own gas and electricity, while water usage is billed by the owner based on individual unit meter readings. This arrangement helps minimize owner-paid operating expenses.The location is truly exceptional—directly across from Tufts University and just a short distance from the Medford/Tufts Green Line station and the Joyce Cummings Center. Nearby university athletic and recreational facilities, vibrant Davis Square, Red Line connections, and convenient access to I-93 and downtown Boston further enhance the property's appeal.An outstanding opportunity to acquire a well-maintained, established investment property combining a premier university location, strong rental history, contracted rental income, and potential for future growth.

Location

State MA

County Middlesex

Area Tufts University

Zoning NR

Direction GPS

Rooms

Basement Full, Partially Finished, Interior Entry, Bulkhead, Concrete

Interior

Interior Features Upgraded Cabinets, Upgraded Countertops, Bathroom With Tub, Bathroom With Tub & Shower, Smart Thermostat, Remodeled, Internet Available - DSL, Living Room, Kitchen

Heating Central, Baseboard, Steam, Natural Gas, Individual, Unit Control

Cooling Window Unit(s)

Flooring Wood, Tile, Vinyl, Laminate, Hardwood, Stone/Ceramic Tile

Appliance Range, Dishwasher, Disposal, Refrigerator

Laundry Gas Dryer Hookup

Exterior

Exterior Feature Balcony/Deck, Rain Gutters

Community Features Public Transportation, Shopping, Park, Laundromat, Highway Access, House of Worship, Public School, T-Station, University, Sidewalks

Utilities Available for Gas Range, for Gas Dryer

Roof Type Shingle

Total Parking Spaces 3

Garage No

Building

Story 4

Foundation Block

Sewer Public Sewer

Water Public

Others

Senior Community false

Virtual Tour https://205college.com

Listed by Keller Williams Realty

NEARBY SCHOOLS & PROPERTIES

+1(978) 360-3069

bpozo@theomteam.com

190 State St, Newburyport, MA

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205 College Ave Somerville, MA 02144