12-14 Lopez Avenue, Cambridge MA

12-14 Lopez Avenue Cambridge

William Senné

President and Chief Executive Officer

Britany Caruso Director 617.669.1069 bcaruso@sennere.com

Senné is comprised of 150+ practitioners of finance, property management, marketing, construction, design, residential and commercial brokerage, and planning, all working together to raise the bar on client satisfaction.

Our unique composition enables us to offer elevated advisory services with a broader perspective on the real estate market for our clients and partners to ensure their dreams are our goals.

Senné is committed to the simple idea that excellence and positive human interaction are not mutually exclusive. This belief informs the real estate work that we do and our service to the communities we serve. We never rest. Quality is paramount to us, and it shines through in everything we do. We reject the concept of one size fits all and embrace the unique diversity of opportunities and challenges that each client brings us.

Drawing on the collective experience of our development, construction, and brokerage teams, Senné offers curated specialty services for real estate developers, institutions and investors. With experience developing and building in excess of $2 billion worth of real estate investments nationally, we pay special attention to every detail to bring excellence and success to market.

The team takes a multidisciplinary approach fostering flexible and entrepreneurial solutions that are at the core of the Senné mission.

Moises Martinez Director 617.658.3989 mmartinez@sennere.com

Jacob King Manager 413.214.1947 jking@sennere.com

DISCLAIMER: Senné Commercial, LLC has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than Senné Commercial, LLC and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.

The William Senné Team WST@sennere.com I 617.934.7313

We Are

Who

Investment Summary 12-14 Lopez Avenue List Price $3,975,000 Net Operating Income $197,022 Cap Rate 4.96% Price Per Unit $662,500 Price Per Square Foot $1,082 PROPERTY DETAILS BUILDING UTILITIES Property Address 12-14 Lopez Avenue Cambridge MA Heating Gas Tenant Responsible Number of Units 6 UNITS Hot Water Gas Tenant Responsible Year Built 1902 Electric Separately Metered Tenant Responsible Land Area 3,060 SQ FT Water City of Cambridge Tenant Responsible Gross Living Area 3,672 SQ FT Sewer City of Cambridge Tenant Responsible Total Gross Area 4,896 SQ FT Parking BUILDING CONSTRUCTION Exterior Wood Shingles Roof Rubber Membrane 6 Residential Units 3 Two Bedrooms 3 One Bedrooms

Property Highlights

12-14 Lopez Avenue

12-14 Lopez Avenue is a fully occupied and completely gut-renovated 6-family property in booming East Cambridge. Comprised of three 1-bedroom and three 2-bedroom units, each apartment features central air, hardwood flooring, in-unit laundry, and brand-new Fisher & Paykel appliances. With rents below market, there is room to increase NOI. In perfect proximity to downtown Boston, Cambridge Crossing, Cambridgeside, Lechmere, and Kendall Square MBTA, this property makes for the ideal investment.

STRATEGIC LOCATION

Centrally located in East Cambridge abutting Downtown Boston and the hub of biotech, Kendall Square, this property will consistently be desired. It’s an easy commute for students and staff at MIT as well.

WALKABLE LOCATION

Three blocks from the brand new Lechmere Green Line MBTA Station and less than a half mile to Kendall Square Red Line MBTA Station, there is an ease of mind for the carless tenants. 12-14 Lopez Avenue is in close proximity to pharmacies, grocery stores, shops, restaurants, bars, parks, and even the Charles River and the Science Museum.

INCOME CURRENT PER UNIT Residential Rent $238,800 $39,800 Gross Potential Rent $279,000 $46,500 Vacancy (3%) ($46,500) ($7,750) EFFECTIVE GROSS REVENUE $270,630 $45,105 EXPENSES CURRENT PER UNIT Cleaning & Trash Removal $1,200 $200 Real Estate Taxes $ 23,883 $3,980 Insurance $ 4,425 $737 Common Electric $ 2,000 $333 Sprinkler/Fire Alarm $ 1,800 $300 Maintenance $ 5,970 $995 Reserves $ 2,500 $417 TOTAL $ 41,778 $13,926 NET OPERATING INCOME $197,022 $6,963 DETAILS # OF BEDS # OF BATHS CURRENT LEASE EXP Unit 1 2 1 $3,350 8/31/23 Unit 2 2 1 $3,400 8/31/23 Unit 3 2 1 $3,650 8/31/23 Unit 4 1 1 $3,400 8/31/23 Unit 5 1 1 $3,100 8/31/23 Unit 6 1 1 $3,100 8/31/23 TOTAL 9 6 $19,900 Rent Roll Income & Expenses

12-14 Lopez Avenue

Unit 1 - 2 Bedroom

$3,350

Monthly Rent

Bedrooms 2

Bathrooms 1

Lease Dates Nov 1, 2021 - Aug 31, 2023

Unit 4 - 1 Bedroom

$3,400

Monthly Rent

Bedrooms 1 Bathrooms 1

Lease Dates Jun 7, 2021 - Aug 31, 2023

UNIT 1 FLOOR 1

UNIT 4

12-14 Lopez Avenue

Unit 2 - 2 Bedroom

Monthly Rent

Bedrooms 2

Bathrooms 1

Lease Dates Sep 1, 2021 - Aug 31, 2023

$3,100

Monthly Rent

Bedrooms 1 Bathrooms 1

Lease Dates Dec 1, 2021 - Aug 31, 2023

UNIT 5

ROOM

$3,400

Unit 5 - 1 Bedroom UNIT 2 FLOOR 2 LIVING

12-14 Lopez Avenue

Unit 3 - 2 Bedroom

Monthly Rent

Bedrooms 2 Bathrooms 1

Lease Dates Sep 13, 2021 - Aug 31, 2023

$3,100

Monthly Rent

Bedrooms 1 Bathrooms 1

Lease Dates Sep 7, 2021 - Aug 31, 2023

Unit 6 - 1 Bedroom UNIT 3

$3,650

LIVING

FLOOR 3 UNIT 6

ROOM

12-14 Lopez Avenue

Overhead View 12-14 LOPEZ AVENUE

Location Map

Harvard Square Bike Path Expressway

Route 93

Cambridgeside Galleria Museum of Science Kendall Sq MBTA Science Park MBTA Comm College MBTA Charles MGH MBTA Lechmere MBTA

12-14

LOPEZ AVENUE Charles River Yacht Club SPRING STREET HURLEY STREET

12-14 LOPEZ AVE Site Plan

Location Overview

East Cambridge

East Cambridge, a neighborhood of about seven thousand residents, is bounded by Somerville to the north, the Charles River to the east, the Boston & Albany Railroad tracks to the west, and Kendall Square to the south. East Cambridge became a working class neighborhood with a sizable immigrant population in the midnineteenth century, with the beginning of the industrial revolution. For a many decades this neighborhood included a number of major manufacturing and industrial businesses. Since the early 1980’s major changes in land use have transformed large manufacturing and industrial areas into commercial and retail developments with a vibrant business and commercial center.

The central part of the neighborhood, one of the oldest residential neighborhoods in Cambridge, has a major commercial and transit center at Lechmere Square, with a longstanding neighborhood retail strip to the west along Cambridge Street. Middlesex County District Court facilities are also located near Lechmere Square. The southern part of East Cambridge, a former industrial area adjacent to the Massachusetts Institute of Technology, it now serves as home to many offices and research labs, as well as several large apartment buildings. Kendall Square is the major commercial and transit center in the southern section. The Charles River waterfront contains hotels, luxury apartment buildings, high-tech businesses, a regional shopping mall, and the Boston Museum of Science. The upper part of East Cambridge, lying to the north of the Monsignor O’Brien Highway and bordering Charlestown and Somerville, is an underdeveloped area known as “North Point”, which is permitted for redevelopment over the coming decades.

Source: https://www.cambridgema.gov/cdd/planud/neighplan/neighs/1 Cambridge Development Department https://en.wikipedia.org/wiki/East_Cambridge,_Cambridge,_Massachusetts