497 Broadway

Investment Overview

Introducing a compelling opportunity for multifamily and mid-rise investors, 497 Broadway in Somerville, MA presents a 14,702 SF mixed-use building. Boasting seven units, including three commercial units and four residential units, this property is strategically located in the heart of Magoun Square. Built in 1900 (public record) and zoned MR4, the building currently enjoys a robust 100% occupancy, offering immediate income potential. With its versatile composition and prime positioning, this property holds significant promise for potential NOI growth, making it an enticing prospect for investors seeking to tap into the dynamic multifamily and mid-rise market in the Boston area.

Investment Highlights

• 14,702 SF mixed-use building
• 7 total units with 3 commercial units & 4 residential units
• Built in 1900 with historic charm
• Zoned MR4 for versatile development options
• Prime location in the heart of Magoun Square
• 100% occupancy with immediate income potential