Building Details

Building Size 3,280 SF

Year Built 1900

Listing Agency: Keller Williams Realty

Listed By: Rajendra Sunuwar Show Phone

Source: Madelyngarciarealestate

Added: Oct 13 Changed: Oct 15 Last Checked: Oct 16 at 3:25PM

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Investment Insights

Based on property information with market context.

This 3-unit property contains 11 bedrooms and 5 bathrooms across 3,280 square feet. Built in 1900, it has updated kitchens and bathrooms, hardwood floors, front and rear porches, basement laundry, and storage. Off-street tandem parking accommodates at least three vehicles. Each apartment has separate gas, electric, and water meters, plus its own heating and hot water systems. Tenants pay gas and electricity; water is billed according to individual unit meter readings.

The property is on College Avenue directly opposite Tufts University. The Medford/Tufts Green Line station and Joyce Cummings Center are nearby, with Davis Square, Red Line connections, I-93, and downtown Boston also noted as accessible destinations. Leases extend through May 2028.

Key Highlights

• 3 apartments with 11 bedrooms and 5 bathrooms
• 3,280 square feet; built in 1900
• Directly opposite Tufts University on College Avenue

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$69,406

Cap Rate

3.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,388,120 $1.4M

Cap Rate 7%

$991,514 $991.5K

Cap Rate 9%

$771,178 $771.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,280 SF

Gross rent

$104.3K $31.80/SF

− Vacancy

−$5.2K −$1.57/SF

EGI

$99.2K $30.23/SF

− OpEx

−$29.7K −$9.07/SF

NOI

$69.4K $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%

$1,388,120

Cap Rate 7%

$991,514

Cap Rate 9%

$771,178

Alternative Uses

Best Use

Multifamily LT 5

$991.5K

$867.6K – $1.16M (±1% cap)

NOI $69,406 @ 7.0% cap · market cap 3.03%

Second Best

Apartment 5plus

$932.3K

$815.8K – $1.09M (±1% cap)

NOI $65,261 @ 7.0% cap · market cap 2.85%

Theoretical Best

Office A

$1.94M

$1.70M – $2.27M (±1% cap)

NOI $135,922 @ 7.0% cap · market cap 5.94%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Law Firm Parking Lot & Garage Computer & Electronic Repair Pharmacy Food Market Tech Support Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Yes

Highway access

Yes

Paved road access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

1,953

Businesses Nearby

Explore this area 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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Tufts University sits opposite this Somerville property, with the Medford/Tufts Green Line station nearby.

Where is this triplex located?

The property is located at 205 College Ave Somerville, MA.

What is the asking price?

The asking price for this property is $2,288,000.

What are key features of this property?

This property features: 3 apartments with 11 bedrooms and 5 bathrooms; 3,280 square feet; built in 1900; Directly opposite Tufts University on College Avenue