Four-Unit Multifamily with
For Sale
$1,200,000
15 Kenneson Road, Somerville, MA 02145
Four-unit multifamily property with 6 bedrooms, 4 bathrooms, and two parking spaces including one in front of the building.
Property Size2,364 SF
Price / SF$507.61
Days on Market122
Property Features for 15 Kenneson Road
General Information
Standard status
Active
Size
2,364 SF
Total Parking Spaces
2
Property subtype
Multi-family
Additional Details
Multifamily Units
4
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
Benoit Real Estate Group,LLC
Listed By:
Shane Marrion
(617) 750-6378
Source:
Benoitrealestate
Added: May 8
Changed: Sep 6
Last Checked: Sep 6 at 9:08AM
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 Benoit Real Estate Group,LLC
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains a total of 6 bedrooms and 4 bathrooms across the four units. Parking includes two spaces: one off-street and one “private way” parking space directly in front of the building.
Located at 15 Kenneson Road in Somerville, the property is described as conveniently near public transportation and major commuter routes, with access to Assembly Row, Union Square, East Somerville, and local restaurants, shopping, and parks.
With four separate units, the configuration offers straightforward multi-unit living under one ownership, supported by the on-site parking setup directly at the building.
Located at 15 Kenneson Road in Somerville, the property is described as conveniently near public transportation and major commuter routes, with access to Assembly Row, Union Square, East Somerville, and local restaurants, shopping, and parks.
With four separate units, the configuration offers straightforward multi-unit living under one ownership, supported by the on-site parking setup directly at the building.
Key Highlights
- 1890‑built 4‑unit multifamily property
- 6 bedrooms and 4 bathrooms across the four units
- Two parking spaces: 1 off‑street and 1 “private way” space directly in front of the building
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
$50,023
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
4.17%
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%
$1,000,460
$1.0M
Cap Rate 7%
$714,614
$714.6K
Cap Rate 9%
$555,811
$555.8K
Market Conditions
NOI Build-Up for 2,364 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
$75.2K $31.80/SF
− Vacancy
−$3.7K −$1.57/SF
EGI
$71.5K $30.23/SF
− OpEx
−$21.4K −$9.07/SF
NOI
$50.0K $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%
$1,000,460
Cap Rate 7%
$714,614
Cap Rate 9%
$555,811
Alternative Uses
Best Use
Multifamily LT 5
$714.6K
$625.3K – $833.7K
NOI $50,023 @ 7.0% cap · market cap 4.17%
Second Best
Apartment 5plus
$671.9K
$588.0K – $783.9K
NOI $47,036 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,964 @ 7.0% cap · market cap 8.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,617
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit multifamily property with 6 bedrooms, 4 bathrooms, and two parking spaces including one in front of the building.
Where is this quadplex located?
The property is located at 15 Kenneson Road Somerville, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 1890‑built 4‑unit multifamily property; 6 bedrooms and 4 bathrooms across the four units; Two parking spaces: 1 off‑street and 1 “private way” space directly in front of the building
