Great value luxury pre-sale condos starting at $538,000 at 9 Medford St, Somerville. Pre-sale price is fixed, no bidding war. All units come with parking. High ceilings, In-unit laundry. Nice roof deck with nice outdoor space and great amenities. Amazing location on the Somerville/Cambridge line, 10-minute walk to Lechmere station. Easy commute to Kendall Square, MIT, Harvard, downtown. The area has grown 8.1% in the past 12 months and is projected to grow in the coming years.
Why are these condos priced competitively compared to the typical new construction condos in the Cambridge/Somerville area?
This building was converted from a historical building in 2016 into high ceiling luxury condos, so it offers amenities, sound insulation and construction materials similar to concrete new construction buildings without charging the premium of new construction prices. The conversion means that the building still preserves some of the original character in certain places, such as the stone walls that many Bostonians like, while looking basically like a new construction building for the most part. So in terms of value, these newly converted condos are priced lower than new construction condos of the same quality. The rare blend of historic character and modern living offers its unique value that many have found appealing.
What investment value do these condos offer?
Medford St is one of the highest appreciation streets in Somerville. The area is close to many rapid developments such as Cambridge Crossing, Kendall Square development, the construction of a new major Cambridge library, school and office buildings on Cambridge St. It is also walking distance to many startup hubs and Kendall Square offices in the area. 9 Medford St is steps to direct bus rides to MIT and Harvard, as well as 10-minute walk to the green line Lechmere Station. The location has attracted many who work or study downtown who enjoy the direct train ride to downtown Boston offices, Northeastern, Berklee, Emerson, etc. My investment units about 5-minute walk to this location have appreciated about 30% in the past 2.5 years.
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