Multifamily Residential Income
3 Lincoln Pl Somerville, MA 02145
New
3 Lincoln Pl, Somerville, MA, 02145
$850,000
For Sale
$850,000
Multi-family home offered for sale near Sullivan Station, ready for renovation and potential updates, subject to approvals.
Property Size1,609 SF
Price / SF$528.28
Days on Market5
Property Features for 3 Lincoln Pl
General Information
- Standard status
- Active
- Size
- 1,609 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1900
Listing agency
Kaverns
(781) 858-5098
Listed by
Alessandro Colarusso
(781) 858-5098
Source
Lockandkeyre
Added: Jul 17 Updated: Jul 21 at 4:19AM Checked: Jul 21 at 4:19AM
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 Kaverns
Investment Insights
Based on property information with market context.
This multi-family residential income property is offered for sale and is described as ready for the right buyer to renovate and update. The home presents an opportunity to refresh the existing improvements and explore additional possibilities, including the potential to add another unit, subject to local approvals.
The property is located at 3 Lincoln Pl in Somerville, MA, just a few blocks from Sullivan Station, which can be an important consideration for tenants seeking nearby transit access.
With its existing multi-family configuration and renovation-oriented positioning, the property may appeal to buyers looking for a hands-on project within a transit-adjacent setting.
The property is located at 3 Lincoln Pl in Somerville, MA, just a few blocks from Sullivan Station, which can be an important consideration for tenants seeking nearby transit access.
With its existing multi-family configuration and renovation-oriented positioning, the property may appeal to buyers looking for a hands-on project within a transit-adjacent setting.
Key Highlights
- Multi‑family home built in 1900
- Located just a few blocks from Sullivan Station
- Offered for sale as a renovation/update project
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 | $51.2k | $31.80 |
| − Vacancy | −$2.5k | −$1.57 |
| EGI | $48.6k | $30.23 |
| − OpEx | −$14.6k | −$9.07 |
| NOI | $34.0k | $21.16 |
1,609 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$486.4K
$425.6K – $567.5K
NOI $34,047 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$457.3K
$400.2K – $533.6K
NOI $32,014 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$952.5K
$833.5K – $1.11M
NOI $66,677 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Multi-family home offered for sale near Sullivan Station, ready for renovation and potential updates, subject to approvals.
Where is this duplex located?
The property is located at 3 Lincoln Pl Somerville, MA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Multi‑family home built in 1900; Located just a few blocks from Sullivan Station; Offered for sale as a renovation/update project
