Buying a Multi-Family in Magoun Square

If you’re looking for a solid value multi-family buy, Magoun Square is one of my favorite places to target in all of Somerville. You’ll see a few price bands in this part of Somerville in my experience:

At the absolute low-end are typically two or three family properties that have fallen into total disrepair. These units almost always sell to developers and typically go for between $700k to $900k in this part of Somerville, depending on the livable square footage and lot size.

Next up, are entry 2-families in the Magoun Square market. These typically go in the $1M to $1.25M range, depending on how big they are (they typically range 2k to 2.5k square ft at this price point) as well as the condition. Some 2-families for example will be 2,500 square feet but only sell around $1M because they need a lot of work, while others could be around 2,000 square feet but in relatively good condition and sell around $1M too. 

The final price band for multi-families around Magoun Square is typically around $1.3M to $1.6M. Here you’ll start seeing 3-families and more square footage - usually 2,700 to 3,300 square feet for most multis at this price point. You’ll also start to see nice “owner occupant quality” 2-families in this range, with updated kitchens and/or bathrooms that are more turnkey. 

If you are thinking of buying a multi-family in Magoun Square but aren’t quite sure what to look for, give me a call and I will break it all down for you! My cell is 617-833-7457!