Two Adjacent Multifamily
126-130 Summer Street Somerville, MA 02143
126-130 Summer Street, Somerville, MA, 02143
$3,465,000
For Sale
$3,465,000
Two adjacent multifamily buildings totaling 6 units with driveway parking, a 1-car garage, and multiple recent improvements.
Property Size8,243 SF
Price / SF$420.36
Days on Market79
Property Features for 126-130 Summer Street
General Information
- Standard status
- Active
- Size
- 8,243 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Leading Edge Real Estate
Listed by
Melanie Lentini
(508) 867-2800
Source
Miketoomeyrealestate
Added: May 5 Updated: Jul 21 at 2:37AM Checked: Jul 22 at 7:17AM
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 Leading Edge Real Estate
Investment Insights
Based on property information with market context.
This offering includes two adjacent multifamily properties totaling six units at 126 & 130 Summer Street. The buildings are described as well maintained and include spacious units, ample driveway parking for six vehicles, a 1-car garage, and inviting outdoor space.
Recent improvements referenced in the remarks include renovated kitchens and baths, upgraded electrical service, newer heating systems, an irrigation system, an updated gazebo, and a Rhino Shield exterior with new gutters and a transferable warranty.
The seller has provided a promotion for full-price, acceptable offers, offering up to a $28,000 credit to be applied toward closing costs, a rate buy-down, or a reduction of the purchase price.
Recent improvements referenced in the remarks include renovated kitchens and baths, upgraded electrical service, newer heating systems, an irrigation system, an updated gazebo, and a Rhino Shield exterior with new gutters and a transferable warranty.
The seller has provided a promotion for full-price, acceptable offers, offering up to a $28,000 credit to be applied toward closing costs, a rate buy-down, or a reduction of the purchase price.
Key Highlights
- Two adjacent multifamily properties at 126 & 130 Summer Street in Somerville, totaling 6 units
- Well‑maintained buildings with spacious units, plus ample driveway parking for 6 and a 1‑car garage
- Renovated kitchens and baths as part of numerous recent improvements
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $314.6k | $38.16 |
| − Vacancy | −$16.4k | −$1.98 |
| EGI | $298.2k | $36.18 |
| − OpEx | −$134.2k | −$16.28 |
| NOI | $164.0k | $19.90 |
8,243 SF · lease $38.16/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.34M
$2.05M – $2.73M
NOI $164,008 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.88M
$4.27M – $5.69M
NOI $341,588 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Two adjacent multifamily buildings totaling 6 units with driveway parking, a 1-car garage, and multiple recent improvements.
Where is this apartment building located?
The property is located at 126-130 Summer Street Somerville, MA.
What is the asking price?
The asking price for this property is $3,465,000.
What are key features of this property?
This property features: Two adjacent multifamily properties at 126 & 130 Summer Street in Somerville, totaling 6 units; Well‑maintained buildings with spacious units, plus ample driveway parking for 6 and a 1‑car garage; Renovated kitchens and baths as part of numerous recent improvements
