Somerville, Massachusetts, offers a unique opportunity for investors to capitalize on the city's dense population and desirable location. With a total population of approximately 80,000 people, Somerville is an attractive location for Multi-Family Properties, providing a steady stream of potential tenants. These properties can represent a range of investments, from small, two-unit buildings to larger, more complex developments. Somerville's walkability, bikeability, and well-developed transportation system, including the MBTA subway stations and bus routes, make it an ideal location for residents who want to be close to Boston and Cambridge. The city's amenities, such as the Somerville Community Path, Dilboy Stadium, and the Somerville Museum, also contribute to its appeal. Additionally, Somerville is home to Tufts University, which provides a steady source of potential tenants. The city's location, infrastructure, and education system make it an attractive location for investors looking to purchase a Multi-Family Property. Somerville is also a great place for business and travel, with attractions like the Somerville Theatre and the annual Fluff Festival.
Somerville's Multi-Family Properties offer a range of investment opportunities, with 9 listings currently available. The average price per square foot is $580 USD, and the average size of these properties is 10,722 square feet, with the largest property being 49,266 square feet. The average cap rate is 5.3%. In addition to Multi-Family Properties, Somerville also offers Retail Space, with shopping centers like Assembly Square and Davis Square providing a range of retail options. Shopping Centers, such as those found in Assembly Square, offer a mix of local and national retailers. Residential Income Homes are also available in Somerville, providing investors with the opportunity to purchase single-family homes or condominiums. Office Properties, such as those found in the city's commercial squares, offer a range of office space options for businesses. Overall, Somerville's diverse range of properties and its desirable location make it an attractive location for investors.
What is the average cap rate for multi-family properties in the Somerville market?
When it comes to investing in multi-family properties in Somerville, understanding the average cap rate is crucial. According to current market data, the average cap rate for multi-family properties in Somerville is 5.3%, which is a key indicator of the potential return on investment - to learn more about how cap rates work, check out our article on what is a cap rate.
What should I know about financing options for buying an apartment building in Somerville?
When considering financing options for buying an apartment building in Somerville, it's essential to understand the local market and available financing options, including commercial real estate loans (CRE loans) which can be explored in more detail at CRE loans.
- With 9 available listings of multi-family properties in Somerville, you'll want to research and compare financing options to find the best fit for your investment goals, considering factors such as average cap rates of 5.3% and average prices per square foot of $580 USD.
- Somerville's strong transportation infrastructure, including the Somerville Community Path, MBTA subway stations, and bike-share programs, can impact property values and rental income, making it crucial to factor these amenities into your financing decisions.
