Two-Unit Multifamily
27 Gorham Street Somerville, MA 02144
27 Gorham Street, Somerville, MA, 02144
$1,050,000
For Sale
$1,050,000
Vacant two-family property with two separate units totaling 1,710 SF and a large yard.
Property Size1,710 SF
Price / SF$614.04
Days on Market101
Property Features for 27 Gorham Street
General Information
- Standard status
- Active
- Size
- 1,710 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Coldwell Banker Realty - Cambridge
Listed by
Gary Vrotsos Team
(413) 584-2900
Source
Mapleandmainrealty
Added: Apr 14 Updated: Jul 21 at 12:47PM Checked: Jul 22 at 6:46AM
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 Coldwell Banker Realty - Cambridge
Investment Insights
Based on property information with market context.
Vacant two-family multifamily property offering Unit 1 as a single-level 4-room, 1-bedroom, 1-bath layout, and Unit 2 as a flexible 5-room, 3-bedroom, 1-bath configuration on two levels. The property includes a large yard and a large 3-car driveway, presenting straightforward options for an owner-operator or redevelopment planning.
The public remarks note proximity to Davis and Porter Squares and direct access to I-93, Route 2, and the Community Path, supporting commuter and day-to-day convenience.
The current offering is positioned as a value-add and development opportunity, with the presence of the large yard referenced as a factor for potential expansion.
The public remarks note proximity to Davis and Porter Squares and direct access to I-93, Route 2, and the Community Path, supporting commuter and day-to-day convenience.
The current offering is positioned as a value-add and development opportunity, with the presence of the large yard referenced as a factor for potential expansion.
Key Highlights
- Vacant two‑family property outside Davis Square with two separate units totaling 1,710 SF
- Unit 1: 4 rooms, 1 bed, 1 bath, single‑level
- Unit 2: 5 rooms, 3 beds, 1 bath, spread across two levels
Local Financial Insights For Apartment 5plus
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 | $65.3k | $38.16 |
| − Vacancy | −$3.4k | −$1.98 |
| EGI | $61.9k | $36.18 |
| − OpEx | −$27.8k | −$16.28 |
| NOI | $34.0k | $19.90 |
1,710 SF · lease $38.16/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$486.0K
$425.3K – $567.1K
NOI $34,023 @ 7.0% cap · market cap 3.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.01M
$885.8K – $1.18M
NOI $70,862 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Vacant two-family property with two separate units totaling 1,710 SF and a large yard.
Where is this multifamily property located?
The property is located at 27 Gorham Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Vacant two‑family property outside Davis Square with two separate units totaling 1,710 SF; Unit 1: 4 rooms, 1 bed, 1 bath, single‑level; Unit 2: 5 rooms, 3 beds, 1 bath, spread across two levels
