Three-Family Property With
New
For Sale
$1,650,000
22 Victoria Street, Somerville, MA 02144
Distinctive multifamily property with separate utilities, rear porches, decks, and a finished basement with full bath.
Property Size3,327 SF
Price / SF$495.94
Days on Market6
Property Features for 22 Victoria Street
General Information
Standard status
Active
Size
3,327 SF
Total Parking Spaces
2
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Amenities
covered front porch
rear decks
backyard
finished basement
laundry area
storage room
Building Details
Year Built
1930
Listing Agency:
Apex Realty Group,LLC
Listed By:
The Apex Team
(617) 846-8000
Source:
Highlandre
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 13 at 9:15AM
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 Apex Realty Group,LLC
Investment Insights
Based on property information with market context.
This three-family property includes 3,327 square feet across three residences, each with basement access and its own rear porch. The first-floor unit has an eat-in kitchen, separate dining room, living room, full bath, and oversized bedroom. The second-floor residence offers three bedrooms, an eat-in kitchen, dining room, living room, and full bath, while the top-floor unit includes an updated kitchen, three bedrooms, and a full bath. The building features a gambrel-style roofline, vinyl siding, brick accents, a covered front porch, and mature landscaping.
An oversized driveway leads to a 2-car garage, with additional outdoor space provided by the backyard and rear decks. The finished basement contains a laundry area, wash sink, storage room, and full bath. Separate utilities, gas heating systems, and water tanks approximately 1.5 years old add practical operating features. The property is located between Davis Square and Teele Square, with access to Tufts University, Alewife Station, Rt 16, and Rt 2.
An oversized driveway leads to a 2-car garage, with additional outdoor space provided by the backyard and rear decks. The finished basement contains a laundry area, wash sink, storage room, and full bath. Separate utilities, gas heating systems, and water tanks approximately 1.5 years old add practical operating features. The property is located between Davis Square and Teele Square, with access to Tufts University, Alewife Station, Rt 16, and Rt 2.
Key Highlights
- 3,327‑square‑foot three‑family property built in 1930
- Oversized driveway with 2‑car garage
- Three residences with separate utilities and individual rear porches
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
$70,401
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
4.27%
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%
$1,408,020
$1.4M
Cap Rate 7%
$1,005,729
$1.0M
Cap Rate 9%
$782,233
$782.2K
Market Conditions
NOI Build-Up for 3,327 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
$105.8K $31.80/SF
− Vacancy
−$5.2K −$1.57/SF
EGI
$100.6K $30.23/SF
− OpEx
−$30.2K −$9.07/SF
NOI
$70.4K $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 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%
$1,408,020
Cap Rate 7%
$1,005,729
Cap Rate 9%
$782,233
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$880.0K – $1.17M
NOI $70,401 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$945.7K
$827.5K – $1.10M
NOI $66,196 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,870 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,981
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Distinctive multifamily property with separate utilities, rear porches, decks, and a finished basement with full bath.
Where is this triplex located?
The property is located at 22 Victoria Street 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: 3,327‑square‑foot three‑family property built in 1930; Oversized driveway with 2‑car garage; Three residences with separate utilities and individual rear porches
