Multifamily Apartment
300 Somerville Avenue Somerville, MA 02143
300 Somerville Avenue, Somerville, MA, 02143
$8,500,000
For Sale
$8,500,000
For-sale apartment building offering residential income potential in Somerville, MA.
Property Size14,523 SF
Price / SF$585.28
Days on Market172
Property Features for 300 Somerville Avenue
General Information
- Standard status
- Active
- Size
- 14,523 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2023
Listing Agency
U3 Realty, LLC
(978) 578-5013
Listed by
Chris Bernier
(978) 578-5013
Source
Churchillprop
Added: Jan 28 Checked: Jul 16 at 2:13 am
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 U3 Realty, LLC
Investment Insights
Based on property information with market context.
This for-sale multifamily apartment building provides a residential income property setup for investors seeking to add an apartment asset to a portfolio. The listing is categorized as an apartment building and other residential income property type, offering a straightforward product within the multifamily market.
The property is located at 300 Somerville Avenue in Somerville, Massachusetts (02143). Access details, frontage, and nearby commercial context are not provided in the available information.
Interested buyers or operating partners should evaluate the building as a residential income acquisition, with due diligence focused on the unit mix, current occupancy, and any applicable building and operating costs. As with any multifamily asset, reviewing the financials, lease terms, and property condition will be important for underwriting and decision-making. This listing presents a clear opportunity to acquire a dedicated apartment-building asset in Somerville, subject to the terms of sale and the buyer’s verification during diligence.
The property is located at 300 Somerville Avenue in Somerville, Massachusetts (02143). Access details, frontage, and nearby commercial context are not provided in the available information.
Interested buyers or operating partners should evaluate the building as a residential income acquisition, with due diligence focused on the unit mix, current occupancy, and any applicable building and operating costs. As with any multifamily asset, reviewing the financials, lease terms, and property condition will be important for underwriting and decision-making. This listing presents a clear opportunity to acquire a dedicated apartment-building asset in Somerville, subject to the terms of sale and the buyer’s verification during diligence.
Key Highlights
- Apartment building built in 2023
- For‑sale apartment building in Somerville, MA
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 | $554.2k | $38.16 |
| − Vacancy | −$28.8k | −$1.98 |
| EGI | $525.4k | $36.18 |
| − OpEx | −$236.4k | −$16.28 |
| NOI | $289.0k | $19.90 |
14,523 SF · lease $38.16/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.13M
$3.61M – $4.82M
NOI $288,959 @ 7.0% cap · market cap 3.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.60M
$7.52M – $10.03M
NOI $601,829 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Walnut Industries
Corporate Office
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - For-sale apartment building offering residential income potential in Somerville, MA.
Where is this apartment building located?
The property is located at 300 Somerville Avenue Somerville, MA.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: Apartment building built in 2023; For‑sale apartment building in Somerville, MA
