56-58 Walnut St #&-4-6, Somerville, MA 02143

The Hollander Block consists of two majestic Queen Anne buildings on the corner of Walnut St & Pleasant Ave on Prospect Hill in Union Sq, one of the fastest growing neighborhoods in Somerville. This rare asset consists of 22 apartments - 20 one bed & 2 three bed units. The property is conveniently located just 3 blocks from bustling Union Sq, soon to be home to the new Green Line extension. The neighborhood boasts many great shops & restaurants including the recently established Bow Market. The Union Square Redevelopment has added to the upward trajectory that Union Sq has been experiencing and is poised to add 2.4 million sqft of office, retail and lab space. All leases are ending on varying dates in the summer of 2020, producing annual gross income of $525,000 with projected annual gross income of $591,000. There is significant value add opportunity through cosmetic updates and basic living area optimization. Rubber roofs replaced in 2002 & 2014, gas heat conversion in 2008.