Four-Unit Quadplex with
For Sale
$1,850,000
Pending
111 Belmont St, Somerville, MA 02143
Four five-room residences feature updated systems, off-street parking, and additional attic and basement expansion areas.
Property Size3,998 SF
Days on Market136
Property Features for 111 Belmont St
General Information
Standard status
Pending
Size
3,998 SF
Property subtype
Investment
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$17,121
Amenities
hardwood floors
front porch
walk-out basement
laundry
storage
Building Details
Building Size
3,998 SF
Year Built
1920
Buildings
1
Stories
4
Units
4
Listing Agency:
RE/MAX Real Estate Center
Listed By:
David Lilley · License #126913
(617) 290-5868
Source:
Elliman
Added: Apr 24
Changed: Sep 2
Last Checked: Aug 30 at 4:13PM
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 RE/MAX Real Estate Center
Investment Insights
Based on property information with market context.
Built in 1920, this Somerville quadplex contains four five-room residences, each offering potential for a three-bedroom layout. The property retains period character through a central staircase, tiled fireplaces, hardwood floors, a natural-light shaft, and a front porch. A third-floor attic with high ceilings is available for future finishing, while the walk-out basement provides laundry and storage space along with additional expansion potential.
Two driveways provide off-street parking. Building updates include vinyl replacement windows, a newer roof, updated heating and hot water systems, and electrical service with a landlord meter. The property is located at 111 Belmont St near three MBTA stops, with the Green Line approximately 0.3 miles away. Transit, dining, and other Somerville amenities are nearby.
Two driveways provide off-street parking. Building updates include vinyl replacement windows, a newer roof, updated heating and hot water systems, and electrical service with a landlord meter. The property is located at 111 Belmont St near three MBTA stops, with the Green Line approximately 0.3 miles away. Transit, dining, and other Somerville amenities are nearby.
Key Highlights
- Four‑family property with four five‑room units
- Each unit offers potential for a three‑bedroom layout
- Third‑floor attic with high ceilings ready for finishing
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$84,599
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,691,980
$1.7M
Cap Rate 7%
$1,208,557
$1.2M
Cap Rate 9%
$939,989
$940.0K
Market Conditions
NOI Build-Up for 3,998 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$127.1K $31.80/SF
− Vacancy
−$6.3K −$1.57/SF
EGI
$120.9K $30.23/SF
− OpEx
−$36.3K −$9.07/SF
NOI
$84.6K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,691,980
Cap Rate 7%
$1,208,557
Cap Rate 9%
$939,989
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.41M
NOI $84,599 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$1.14M
$994.3K – $1.33M
NOI $79,547 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$2.37M
$2.07M – $2.76M
NOI $165,676 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,088
Businesses Nearby
Explore this area
Business Placement
Demographics for 02143, MA
26,022
Population
12,901
Households
2
Avg Household Size
33
Median Age
74%
College-Educated
95%
High-School Grad
1.5 sq mi
ZIP Area
17,348
Density / Sq Mi
$126,102
Median Household Income
$73,055
Median Earnings
$2,424
Median Rent
$930,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four five-room residences feature updated systems, off-street parking, and additional attic and basement expansion areas.
Where is this quadplex located?
The property is located at 111 Belmont St Somerville, MA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Four‑family property with four five‑room units; Each unit offers potential for a three‑bedroom layout; Third‑floor attic with high ceilings ready for finishing
