Renovated 3-Unit Multifamily
23 Quincy Street Somerville, MA 02143
23 Quincy Street, Somerville, MA, 02143
$1,565,523
Pending
For Sale
$1,565,523
Pending
Renovated 3-unit property with in-unit laundry and separate HVAC, gas, and hot water systems for each unit.
Property Size3,980 SF
Days on Market45
Property Features for 23 Quincy Street
General Information
- Standard status
- Pending
- Size
- 3,980 SF
- Property subtype
- Multi-family / 3 Family
Building Details
- Year Built
- 1890
Listing agency
Keller Williams Realty Boston-Metro | Back Bay
(617) 542-0012
Listed by
Bart Foster · License #9046003
(617) 542-0012
Source
Compass
Added: Jun 9 Updated: Jul 21 at 2:50AM Checked: Jul 22 at 9:32AM
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 Keller Williams Realty Boston-Metro | Back Bay
Investment Insights
Based on property information with market context.
This extensively renovated 3-unit multifamily residence includes three separate living spaces with fully separated utilities, featuring individual HVAC, gas, and hot water systems for each unit. The owner’s unit offers a modern open kitchen/dining area, a living room with a wood stove, and a full bath with a multi-head walk-in shower. A versatile multi-function room includes a half bath with sliding door access to a large open-air deck, and there is an open attic that may allow for future expansion.
Units 2 and 3 each include full tub/shower bathrooms, in-unit laundry, and dedicated pantry areas. The property is described as highly accessible, with nearby Market Basket and multiple MBTA connections, including Union Square and Porter Square.
The property is offered for sale, with showings available between 10:00 AM and 1:00 PM and a 24-hour minimum notice requirement. Offers are scheduled to be reviewed on June 16.
Units 2 and 3 each include full tub/shower bathrooms, in-unit laundry, and dedicated pantry areas. The property is described as highly accessible, with nearby Market Basket and multiple MBTA connections, including Union Square and Porter Square.
The property is offered for sale, with showings available between 10:00 AM and 1:00 PM and a 24-hour minimum notice requirement. Offers are scheduled to be reviewed on June 16.
Key Highlights
- 3‑unit multi‑family residence with 3,980 SF and an open attic for possible expansion
- Extensively renovated: wood, tile, varying floors, hardwood, and insulated windows
- Each unit has fully separated utilities with individual HVAC, gas, and hot water systems
Local Financial Insights For Multifamily LT 5
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 | $126.6k | $31.80 |
| − Vacancy | −$6.3k | −$1.57 |
| EGI | $120.3k | $30.23 |
| − OpEx | −$36.1k | −$9.07 |
| NOI | $84.2k | $21.16 |
3,980 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,218 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$1.13M
$989.9K – $1.32M
NOI $79,189 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$2.36M
$2.06M – $2.75M
NOI $164,930 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Renovated 3-unit property with in-unit laundry and separate HVAC, gas, and hot water systems for each unit.
Where is this triplex located?
The property is located at 23 Quincy Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,565,523.
What are key features of this property?
This property features: 3‑unit multi‑family residence with 3,980 SF and an open attic for possible expansion; Extensively renovated: wood, tile, varying floors, hardwood, and insulated windows; Each unit has fully separated utilities with individual HVAC, gas, and hot water systems
