Three-Unit Multifamily
For Sale
$1,750,000
30 Clarendon Avenue, Somerville, MA 02144
Historic three-unit residence with hardwood floors, tiled bathrooms, rear decks, and unfinished attic and basement areas.
Property Size3,973 SF
Price / SF$440.47
Days on Market57
Property Features for 30 Clarendon Avenue
General Information
Standard status
Active
Size
3,973 SF
Property subtype
Multi-family
Additional Details
Public Transit
Yes
Multifamily Units
3
Building Details
Year Built
1900
Construction
Gambrel
Listing Agency:
Steve Bremis Realty Group
(617) 828-1070
Listed By:
Stephen Bremis · License #128686
(617) 828-1070
Source:
Stevebremis
Added: Jul 5
Changed: Aug 29
Last Checked: Aug 29 at 10:47PM
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 Steve Bremis Realty Group
Investment Insights
Based on property information with market context.
Built in 1900, this three-unit multifamily property provides 3,973 square feet of living area. Each unit can function as a three-bedroom layout and includes a semi-modern eat-in kitchen with pantry, a dining room with built-in china cabinet, hardwood flooring, and a modern tiled bathroom. Original Bostonian trim remains throughout, with most casings finished in natural wood. Three rear decks extend toward the spacious backyard.
The property includes a full walk-up unfinished fourth-floor attic with space for at least two additional rooms, along with approximately 1,300 square feet of unfinished basement area. It is located at 30 Clarendon Avenue in Somerville, approximately a half mile from the Davis Square Red Line and Tufts Green Line. The surrounding area has a Walk Score of 91, a Bike Score of 86, and an Excellent Transit Score. The property can be delivered vacant by 9/1/26.
The property includes a full walk-up unfinished fourth-floor attic with space for at least two additional rooms, along with approximately 1,300 square feet of unfinished basement area. It is located at 30 Clarendon Avenue in Somerville, approximately a half mile from the Davis Square Red Line and Tufts Green Line. The surrounding area has a Walk Score of 91, a Bike Score of 86, and an Excellent Transit Score. The property can be delivered vacant by 9/1/26.
Key Highlights
- 3,973 SQ FT of living area across 3 units
- Each unit can be used as a 3‑bedroom layout
- Full walk‑up unfinished 4th‑floor attic with space for at least two additional rooms
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
$84,070
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
4.80%
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%
$1,681,400
$1.7M
Cap Rate 7%
$1,201,000
$1.2M
Cap Rate 9%
$934,111
$934.1K
Market Conditions
NOI Build-Up for 3,973 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
$126.3K $31.80/SF
− Vacancy
−$6.2K −$1.57/SF
EGI
$120.1K $30.23/SF
− OpEx
−$36.0K −$9.07/SF
NOI
$84.1K $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%
$1,681,400
Cap Rate 7%
$1,201,000
Cap Rate 9%
$934,111
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,070 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$1.13M
$988.1K – $1.32M
NOI $79,049 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$2.35M
$2.06M – $2.74M
NOI $164,640 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,420
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Historic three-unit residence with hardwood floors, tiled bathrooms, rear decks, and unfinished attic and basement areas.
Where is this triplex located?
The property is located at 30 Clarendon Avenue Somerville, MA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 3,973 SQ FT of living area across 3 units; Each unit can be used as a 3‑bedroom layout; Full walk‑up unfinished 4th‑floor attic with space for at least two additional rooms
