Renovated 6-Unit Building
For Sale
$3,260,000
109 Walnut Street, Somerville, MA 02145
Fully renovated 6-unit building in desirable Winter Hill neighborhood.
Property Size8,060 SF
Price / SF$404.47
Days on Market214
Property Features for 109 Walnut Street
General Information
Standard status
Active
Size
8,060 SF
Property subtype
Multi-family
Building Details
Year Built
1920
Listing Agency:
Keller Williams Realty Evolution
Listed By:
Lior Rozhansky
(978) 922-3683
Source:
Jbarrettrealty
Added: Apr 1
Changed: Sep 2
Last Checked: Jul 16 at 1:40PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty Evolution
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Investment Insights
Based on property information with market context.
This 8,060 square foot building features six units, each with three bedrooms and one bathroom, characterized by large rooms and high ceilings. The property is located in the Winter Hill neighborhood of Somerville, directly across from the new Gilman Square green line stop. The building has undergone extensive renovations between 2021 and 2023, including kitchen, bath, and laundry work, as well as plumbing and electric improvements in each unit. A new roof was installed in 2023, and the rear decks were fully rebuilt in 2024. The property includes split utilities, a driveway, and a fenced-in yard. Leases are in place throughout. The gross rent roll is $20,400 per month. This property presents an opportunity for investors, close to the development around Winter Hill, Assembly, and Union Square in Somerville.
Key Highlights
- Prime location directly across from the new Gilman Square green line stop.
- Fully renovated units (kitchen/bath/laundry, plumbing/electric) between 2021‑2023.
- Stabilized 6‑unit building generating a gross monthly rent roll of $20,400.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$160,367
Cap Rate
4.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,207,340
$3.2M
Cap Rate 7%
$2,290,957
$2.3M
Cap Rate 9%
$1,781,856
$1.8M
Market Conditions
NOI Build-Up for 8,060 SF
Gross rent
$307.6K $38.16/SF
− Vacancy
−$16.0K −$1.98/SF
EGI
$291.6K $36.18/SF
− OpEx
−$131.2K −$16.28/SF
NOI
$160.4K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,207,340
Cap Rate 7%
$2,290,957
Cap Rate 9%
$1,781,856
Alternative Uses
Best Use
Apartment 5plus
$2.29M
$2.00M – $2.67M
NOI $160,367 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.77M
$4.18M – $5.57M
NOI $334,004 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,178
Businesses Nearby
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Business Placement
Demographics for 02145, MA
27,520
Population
12,669
Households
2.2
Avg Household Size
33
Median Age
55%
College-Educated
89%
High-School Grad
1.4 sq mi
ZIP Area
19,657
Density / Sq Mi
$119,167
Median Household Income
$63,629
Median Earnings
$2,377
Median Rent
$784,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated 6-unit building in desirable Winter Hill neighborhood.
Where is this apartment building located?
The property is located at 109 Walnut Street Somerville, MA.
What is the asking price?
The asking price for this property is $3,260,000.
What are key features of this property?
This property features: Prime location directly across from the new Gilman Square green line stop.; Fully renovated units (kitchen/bath/laundry, plumbing/electric) between 2021‑2023.; Stabilized 6‑unit building generating a gross monthly rent roll of $20,400.
