Buying a multi-family in Ball Square

If you’re looking at purchasing a multi-family in Somerville, Ball Square is a good area to target. Now with the green line T stop in place, I have found the tenant pool tends to be strong and demand tends to be quite high. And with some patience you can get a great deal…I’ve even seen some nicely sized 3-families sell in this section of Somerville for under $1.5M - that is a very good price per a unit for a prime area in Somerville. 

Now, really large 3-families - as in 3,500 square feet or more, often times will land in the $1.75M to $2M range and most 2-families land in the $1.5M range here. But again, with patience, I typically see a handful of great buyers in Ball Square each year that provide a solid cap rate for the price. 

This area also has some larger multi-families and more Philadelphia style 2-families (meaning part of each unit is on a second floor). These homes tend to be ideal for owner-occupants who need a bit extra space for kids and/or guests. So if you are looking to be an owner occupant in a Somerville 2-family, this is one of the better neighborhoods to target. 

Whatever your multi-family buying situation is, if you are hoping to target Ball Square, give me a call and I can help you understand what to look for and what to avoid to ensure a great purchase! My cell is 617-833-7457.