Two-Unit Duplex with Off-Street
New
For Sale
$1,650,000
16 Electric Ave, Somerville, MA 02144
Separate apartments offer hardwood floors, in-unit laundry, and distinct bedroom and bath layouts.
Property Size3,115 SF
Price / SF$529.70
Days on Market5
Property Features for 16 Electric Ave
General Information
Standard status
Active
Size
3,115 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
NR
Units
Unit Mix
1 x 3BR/1BA, 1 x 4BR/1.5BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$16,028
Amenities
hardwood flooring
in-unit laundry
front porch
rear deck
Wood,Hardwood
1
3
No
4
7
Public Record
Living Room,Kitchen
3115
Public
0.07
2
Paved Drive,Off Street,Paved
Block
Building Details
Building Size
3,115 SF
Year Built
1900
Buildings
1
Stories
4
Listing Agency:
J. R. Pierre Real Estate
(617) 625-1193
Listed By:
Rivard Pierre · License #9031521
(617) 233-9894
Source:
Jrpierre
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 3:34PM
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 J. R. Pierre Real Estate
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Investment Insights
Based on property information with market context.
This 3,115-square-foot duplex, built in 1900, contains two apartments. The first has a living room, dining room, kitchen, three bedrooms, and one full bathroom. The second includes a living room, dining room, kitchen, four bedrooms, and one and a half bathrooms. Hardwood flooring and in-unit laundry are present in both units. The property also has a front porch, rear deck, and off-street parking for two cars on a 0.07-acre lot.
The Somerville property is near Tufts University, Teele Square, and Davis Square, with access to Red and Green Line stations, restaurants, shops, and entertainment. Zoning is NR.
The Somerville property is near Tufts University, Teele Square, and Davis Square, with access to Red and Green Line stations, restaurants, shops, and entertainment. Zoning is NR.
Key Highlights
- Two apartments: one with 3 bedrooms and 1 full bath; the other with 4 bedrooms and 1.5 baths
- 3,115 square feet; built in 1900
- 0.07‑acre lot with off‑street parking for 2 cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,915
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,318,300
$1.3M
Cap Rate 7%
$941,643
$941.6K
Cap Rate 9%
$732,389
$732.4K
Market Conditions
NOI Build-Up for 3,115 SF
Gross rent
$99.1K $31.80/SF
− Vacancy
−$4.9K −$1.57/SF
EGI
$94.2K $30.23/SF
− OpEx
−$28.2K −$9.07/SF
NOI
$65.9K $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%
$1,318,300
Cap Rate 7%
$941,643
Cap Rate 9%
$732,389
Alternative Uses
Best Use
Multifamily LT 5
$941.6K
$823.9K – $1.10M
NOI $65,915 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$885.4K
$774.7K – $1.03M
NOI $61,978 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $129,085 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,433
Businesses Nearby
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Business Placement
Demographics for 02144, MA
25,497
Population
11,881
Households
2.1
Avg Household Size
31
Median Age
75%
College-Educated
96%
High-School Grad
1.1 sq mi
ZIP Area
23,179
Density / Sq Mi
$140,591
Median Household Income
$74,639
Median Earnings
$2,654
Median Rent
$987,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate apartments offer hardwood floors, in-unit laundry, and distinct bedroom and bath layouts.
Where is this duplex located?
The property is located at 16 Electric Ave Somerville, MA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Two apartments: one with 3 bedrooms and 1 full bath; the other with 4 bedrooms and 1.5 baths; 3,115 square feet; built in 1900; 0.07‑acre lot with off‑street parking for 2 cars
