Address
21 Allen Street, Somerville, MA
Price
$ 7,950,000
Property Attributes
  • MLS#73211289
  • TypeMulti-Family
  • CountyMIDDLESEX
  • CitySomerville
  • Zip02143
  • Style5+ Family - 5+ Units Up/Down
  • Year Built2025
  • Taxes$ 57409
  • Price$ 7,950,000
  • Bedrooms76
  • Full Bathrooms85
  • Half Bathrooms6
  • Sqr Footage47572
  • Lot Size0.41 Acres
Data Source:
Massachusetts MLS Property Info Network (MLSPIN)
Property Description

The Ropewalk is a 69-unit multi-family development in the heart of Union Square, adjacent to the newly opened MBTA Station. The arrival of the Green Line Transit Station has precipitated a rapid transformation of the Square. The Square's $2 billion, 3.8 million SF master-planned development, coined USQ spans 20 acres and includes 2.4M SF of lab and innovation space,150,000 SF of retail and restaurant space, and 4.7 acres of vibrant open spaces. Phase I was delivered by Magellan Development in Q3 2023 with future phases set to break ground in 2024. Boynton Yards and Somerville Gateway which border Union Square to the east and south are complimentary master-planned developments adding a combined 4.1 million SF state-of-the-art life sciences/biotech, hotel, and retail spaces to the broader neighborhood. The project is in a qualified OZ and has been permitted as a Passive House project; set to achieve the highest level of sustainability. Approvals allow for either apartments or condos.

Price History
3/12/2024 Listed $8,790,000
4/23/2024 7% - $8,250,000
5/3/2024 4% - $7,950,000

General Features

Sewer Public Sewer
Zoning UR
Year Built 2025
View City View(s)
Property SubType 5+ Family - 5+ Units Up/Down
Tax Year 2024
Gross Income 250164
Community Features Public Transportation,Shopping,Bike Path,Public School,T-Station,University
County Middlesex
Net Operating Income 250164
Property Type Residential Income
Garage Y/N No
Green Energy Generation Solar
Total Rooms 99
Status Active
Directions 200' North on Bennet Ct from Union Square GLX station
City Somerville
Disclosures Seller has ownership interest in Fortune RE.
View Y/N Yes
Senior Community Y/N No
Total Units 69
Lot Size Square Feet 17873
Waterfront Y/N No
Street Name Allen Street
Year Built Details To Be Built
Tax Annual Amount 57409.43
Home Warranty Y/N No
Building Area Units Square Feet
Standard Status Active
Year Built Source Owner
Tax Assessed Value 5378000
Total Actual Rent 15322
Compensation Based On Gross/Full Sale Price
Sub-Agency Relationship Offered No

Interior Features

Total Stories 12
Window Features Insulated Windows
Fireplace Y/N No
Full Baths 85
Half Baths 6
Total Bedrooms 76
Total Baths 91

Exterior Features

Fencing Fenced/Enclosed
Lot Features Cleared,Level
Water Source Public
Lot Size Area 0.41
Foundation Details Concrete Perimeter
Spa No
Building Area Total 47572
Lot Size Acres 0.41
Lot Size Units Acres
Door Features Insulated Doors

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 02143

Price
AVG $3.1M
$7.95M
Taxes
AVG $18,571
$57,409
Visits
AVG 623
209
Data Provided by Inside Real Estate®
Year Built
AVG 1926
2025

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