Three-Unit Multifamily
126 Summer Street Somerville, MA 02143
126 Summer Street, Somerville, MA, 02143
$1,695,000
For Sale
$1,695,000
Triplex with recent electrical upgrades, updated heating on 1st/3rd floors, and side-by-side parking for up to three vehicles.
Property Size3,688 SF
Price / SF$459.60
Days on Market73
Property Features for 126 Summer Street
General Information
- Standard status
- Active
- Size
- 3,688 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Leading Edge Real Estate
Listed by
Melanie Lentini
(617) 394-8648
Source
Unitboston
Added: May 10 Updated: Jul 21 at 5:42AM Checked: Jul 21 at 5:42AM
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.
126 Summer Street is a three-unit multifamily property featuring three spacious units with numerous recent improvements. Upgrades include upgraded electrical with a separate meter for the fire alarm system, newer heating systems for the 1st and 3rd floor units, and an updated oversized gazebo completed in 2022.
Outside, the property offers a large driveway with side-by-side parking for up to three vehicles, along with a front yard irrigation system and additional outdoor space.
The offering is also described as an opportunity to purchase 1 or 2 adjacent multifamily properties totaling 6 units, with details referenced for the neighboring property at 130 Summer Street.
Outside, the property offers a large driveway with side-by-side parking for up to three vehicles, along with a front yard irrigation system and additional outdoor space.
The offering is also described as an opportunity to purchase 1 or 2 adjacent multifamily properties totaling 6 units, with details referenced for the neighboring property at 130 Summer Street.
Key Highlights
- Triplex at 126 Summer St., built in 1900
- Three units with numerous recent improvements, including upgraded electrical with a separate meter for the fire alarm system
- Newer heating systems for the 1st and 3rd floor units
Local Financial Insights For Multifamily LT 5
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 | $117.3k | $31.80 |
| − Vacancy | −$5.8k | −$1.57 |
| EGI | $111.5k | $30.23 |
| − OpEx | −$33.4k | −$9.07 |
| NOI | $78.0k | $21.16 |
3,688 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$975.5K – $1.30M
NOI $78,039 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$1.05M
$917.2K – $1.22M
NOI $73,379 @ 7.0% cap · market cap 4.33%
Theoretical Best
Office A
$2.18M
$1.91M – $2.55M
NOI $152,830 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Triplex with recent electrical upgrades, updated heating on 1st/3rd floors, and side-by-side parking for up to three vehicles.
Where is this triplex located?
The property is located at 126 Summer Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,695,000.
What are key features of this property?
This property features: Triplex at 126 Summer St., built in 1900; Three units with numerous recent improvements, including upgraded electrical with a separate meter for the fire alarm system; Newer heating systems for the 1st and 3rd floor units
