Boston Realty Advisors is pleased to present the exceptional opportunity to acquire 17-19 & 19R Aldersey Street, a 9-unit multifamily offering located in Somerville, Massachusetts.
17-19 & 19R Aldersey Street features 9 apartment units amongst two separate buildings with an additional garage that can be potentially redeveloped into additional living space or additional parking. The offering currently offers ample off-street parking for residents with at least one space per unit. This irreplaceable asset is located steps from the heart of Union Square, which will be home to a new MBTA Green Line station as part of the Green Line Extension project which is anticipated to be operational by the end of 2021. 17-19 & 19R Aldersey Street presents investors with high quality real estate in a transformative market with value add potential.
Somerville, Massachusetts is considered to be one of the most active and transitional submarkets of Boston, MA. With the recent completion of phase 1 of Assembly Row, a 400,000+ square foot, 27-acre mixed-use development, the complete re-zoning of the city expected in 2019, and the approved 2.4 Million square foot Union Square development, Somerville is quickly becoming an epicenter of positive change. Additionally, the MBTA Green Line Extension project set to be complete in 2021 will provide residents and commuters rapid transit from major hubs such as North Station. Somerville, MA is certainly undergoing a massive transformation which has attracted new residents, forward thinking retail concepts, as well as new company headquarters such as Partners Healthcare and Puma.
17-19 Aldersey Street is offered for sale on an un-priced basis. We will be conducting tours of the property with
a “call-for-offers” to follow.
Recent renovations to both properties present investors with a turn-key investment opportunity with a potential condominium conversion in the future. Features include hardwood floors, fully equipped kitchens, laundry and exterior improvements.
& UPSIDE POTENTIAL
Strategically positioned within a half-mile of the
new Union Square MBTA Green Line station,
17-19 & 19R Aldersey Street will offer residents a
seamless commute to downtown Boston and currently offers residents access to multiple bus routes.
Somerville is aggressively pursuing a revitalization. A new zoning code that will allow significantly more density near the Green Line stops is poised to be passed in 2019. The city wants to add 6,000 new dwelling units and 30,000
new jobs by 2030. The offering is situated just 0.4 miles from the 2.4 million SF Union Square redevelopment.
OF THE CITY
There will be well over 1 million square feet of office
space within a half-mile of 17-19 & 19R Aldersey Street
by 2027. Given the strong tenant demand for Assembly Row and the historically tight Kendall Square market, Union Square is poised to become an employment hotbed.
STRONG EMPLOYMENT DYNAMICS
Jason s. Weissman
Founder & Senior Partner
Nicholas m. Herz
Managing Director & Partner