PROPERTY DESCRIPTION
The multi-family investment property located at 70 Columbus Ave in Somerville, MA (the Property) is a multi-story building containing five (5) 1-Bedroom/1-Bathroom units with 3,782 square feet of gross living area in 5,878 square feet of gross area. The Property is situated upon a 0.14-acre parcel and features three (3) tandem parking spaces. The historic building has been exceptionally cared for and features large recently updated apartments, providing residents with a desirable blend of character and modern convenience in a sought-after sub-market, minutes from the new Union Square MBTA Train Station. The Property benefits from recent significant capital improvements, including the installation of six new Burnham boilers in 2019, a new roof and extensive exterior maintenance in 2022, the replacement of approximately half of the building's windows in 2025, and a brand-new landlord-owned coin-operated laundry in 2026. The Property also offers meaningful value-add opportunity through below market rents. A full-height basement unit currently generates no income and may present future opportunities for additional revenue. The large driveway is also underutilized and can accommodate at least three off street parking spaces, creating supplemental parking income.