Renovated Multifamily Income
15 Walnut Street Somerville, MA 02143
15 Walnut Street, Somerville, MA, 02143
$2,850,000
For Sale
$2,850,000
Multistory property offers multiple studio and bedroom apartments, each with separate utilities and a basement coin-op laundry.
Property Size5,210 SF
Lot Size0.14 Acres
Price / SF$547.02
Days on Market125
Property Features for 15 Walnut Street
General Information
- Standard status
- Active
- Size
- 5,210 SF
- Lot size
- 0.14 Acres
- Property subtype
- Multi-family
Building Details
- Year Built
- 1906
Listing agency
Horvath & Tremblay
Listed by
Kelleher - Pentore Team
(978) 808-8064
Source
Merryfoxrealty
Added: Mar 19 Updated: Jul 21 at 4:00AM Checked: Jul 21 at 4:00AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This multifamily income building features a mix of units including four 2-bedroom/1-bath apartments, one 1-bedroom/1-bath apartment, and three two-room studio units. The building includes approximately 5,210 square feet of gross living area within 8,423 square feet of gross area on a 0.14-acre parcel. The property has been meticulously maintained under current ownership, with capital improvements that include complete renovations to units 15 Walnut #3 and Sanborn 1R, 2L and 3L.
All units feature separate utilities with tenants responsible for their own heat, hot water, and electricity. Six of the units have gas-fired forced hot water baseboard and/or radiator heat, while 15 Walnut #3 features gas HVAC and Sanborn 3 features electric heating and cooling. Additional amenities include a coin-op laundry room located in the basement.
The property is centrally located in Somerville’s Union Square neighborhood.
All units feature separate utilities with tenants responsible for their own heat, hot water, and electricity. Six of the units have gas-fired forced hot water baseboard and/or radiator heat, while 15 Walnut #3 features gas HVAC and Sanborn 3 features electric heating and cooling. Additional amenities include a coin-op laundry room located in the basement.
The property is centrally located in Somerville’s Union Square neighborhood.
Key Highlights
- Multistory building with 4 two‑bedroom/1‑bath units, 1 one‑bedroom/1‑bath unit, and 3 two‑room studio units
- 5,210 SF gross living area in 8,423 SF gross area on a 0.14‑acre parcel
- Capital improvements include complete renovations to units 15 Walnut #3 and Sanborn 1R, 2L and 3L
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 | $198.8k | $38.16 |
| − Vacancy | −$10.3k | −$1.98 |
| EGI | $188.5k | $36.18 |
| − OpEx | −$84.8k | −$16.28 |
| NOI | $103.7k | $19.90 |
5,210 SF · lease $38.16/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,661 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.08M
$2.70M – $3.60M
NOI $215,901 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Multistory property offers multiple studio and bedroom apartments, each with separate utilities and a basement coin-op laundry.
Where is this apartment building located?
The property is located at 15 Walnut Street Somerville, MA.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Multistory building with 4 two‑bedroom/1‑bath units, 1 one‑bedroom/1‑bath unit, and 3 two‑room studio units; 5,210 SF gross living area in 8,423 SF gross area on a 0.14‑acre parcel; Capital improvements include complete renovations to units 15 Walnut #3 and Sanborn 1R, 2L and 3L
