Four-Unit Multifamily with Off-Street
159 Pearl Street, Somerville, MA 02145
For Sale
$1,859,900
Two separate two-family homes on one lot with ample off-street parking and a paved driveway setup.
Property Size7,500 SF
Days on Market118
Property Features for 159 Pearl Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Century 21 Realty Network
Listed By:
Kevin Fernandes · License MA #121936
(508) 965-0360
Source:
Classifiedrealtygroup
Added: Jul 20
Changed: Nov 10
Last Checked: Nov 12 at 4:50AM
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 Century 21 Realty Network
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This property is configured as a four-unit multifamily offering, consisting of two separate two-family homes on one lot. The homes have been owned and cared for by the same family for decades and are currently fully occupied with long-term tenants, with one unit intended for delivery vacant. In addition to the four units, there is additional finished space in the lower levels, which can provide added flexibility; buyers should perform their own due diligence regarding its use.
The property includes ample off-street parking, supported by a paved driveway on both sides that is designed to allow easy tenant entry and exit. It is also described as convenient to major routes, public transportation, and nearby shopping and dining.
The property includes ample off-street parking, supported by a paved driveway on both sides that is designed to allow easy tenant entry and exit. It is also described as convenient to major routes, public transportation, and nearby shopping and dining.
Key Highlights
- Two separate 2‑family homes on one lot, configured as a four‑unit property
- Year built: 1900
- Fully occupied with long‑term tenants; one unit will be delivered vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$158,703
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,174,060
$3.2M
Cap Rate 7%
$2,267,186
$2.3M
Cap Rate 9%
$1,763,367
$1.8M
Market Conditions
NOI Build-Up for 7,500 SF
Gross rent
$238.5K $31.80/SF
− Vacancy
−$11.8K −$1.57/SF
EGI
$226.7K $30.23/SF
− OpEx
−$68.0K −$9.07/SF
NOI
$158.7K $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 Rate 5%
$3,174,060
Cap Rate 7%
$2,267,186
Cap Rate 9%
$1,763,367
Alternative Uses
Best Use
Multifamily LT 5
$2.27M
$1.98M – $2.65M
NOI $158,703 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$2.13M
$1.87M – $2.49M
NOI $149,225 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$4.44M
$3.88M – $5.18M
NOI $310,798 @ 7.0% cap · market cap 16.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
2,311
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
$784,900
Median Home Value
Market
Average Price Trend$/SF for Quadplexes in Middlesex County, MA
Properties on Market for Quadplexes in Middlesex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Two separate two-family homes on one lot with ample off-street parking and a paved driveway setup.
Where is this quadplex located?
The property is located at 159 Pearl Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,859,900.
What are key features of this property?
This property features: Two separate 2‑family homes on one lot, configured as a four‑unit property; Year built: 1900; Fully occupied with long‑term tenants; one unit will be delivered vacant
