Multifamily Residential Income
For Sale
$850,000
3 Lincoln Pl, Somerville, MA 02145
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 Market98
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) 630-1401
Listed By:
Alessandro Colarusso
(781) 858-5098
Source:
Lockandkeyre
Added: Jul 17
Changed: Oct 21
Last Checked: Oct 20 at 9:08PM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,047
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$680,940
$680.9K
Cap Rate 7%
$486,386
$486.4K
Cap Rate 9%
$378,300
$378.3K
Market Conditions
NOI Build-Up for 1,609 SF
Gross rent
$51.2K $31.80/SF
− Vacancy
−$2.5K −$1.57/SF
EGI
$48.6K $30.23/SF
− OpEx
−$14.6K −$9.07/SF
NOI
$34.0K $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%
$680,940
Cap Rate 7%
$486,386
Cap Rate 9%
$378,300
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 authorities.
How Realmo checks its estimates
Property Analytics
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Location Intelligence
Trade Area within ½ mile
1,924
Businesses Nearby
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Business Placement
Demographics for 02145, MA
27,520
Population
12,669
Households
2.2
Avg Household Size
33
Median Age
55%
College-Educated
89%
High-School Grad
1.4 sq mi
ZIP Area
19,657
Density / Sq Mi
$119,167
Median Household Income
$63,629
Median Earnings
$2,377
Median Rent
$784,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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
