Renovated Quadplex with Central
For Sale
$3,300,000
32 Cameron Avenue, Somerville, MA 02144
Completely renovated four-unit property with in-unit laundry, central A/C, and off-street parking for six vehicles.
Property Size5,130 SF
Price / SF$643.27
Days on Market440
Property Features for 32 Cameron Avenue
General Information
Standard status
Active
Size
5,130 SF
Total Parking Spaces
6
Property subtype
Multi-family / 4 Family
Zoning
B
Net Operating Income
$147,966
Additional Details
Highway Access
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$16,286
Amenities
in-unit laundry
central air conditioning
gourmet kitchens
gas fireplace
electric fireplace
No
Tile, Vinyl, Hardwood
4
Yes
8.0
Finished, Interior Access, Bulkhead
Living Room, Dining Room, Kitchen, Laundry Room, Office/Den
8
8.00
Level
Balcony, Rain Gutters, Porch
Porch
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
Gibson Sotheby's International Realty
Listed By:
Anthony Bruno · License #9062809
(617) 426-6900
Source:
Compass
Added: Jun 24, 2025
Changed: Aug 8
Last Checked: Jul 22 at 5:37PM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
This completely renovated quadplex features four condo-quality units with in-unit laundry and central A/C. The two first-floor units each offer two living levels, with 3 bedrooms and 2 full bathrooms, and include a gas fireplace. The two upper units each provide 2 bedrooms and 2 full bathrooms, with an electric fireplace.
All units include gourmet kitchens with white cabinetry, quartz counters, and stainless-steel appliances. Off-street parking is available for six vehicles.
The property’s current rents are described as below market. The two larger units are used as 3-bedroom units, while the City of Cambridge lists them as 2 bedrooms.
All units include gourmet kitchens with white cabinetry, quartz counters, and stainless-steel appliances. Off-street parking is available for six vehicles.
The property’s current rents are described as below market. The two larger units are used as 3-bedroom units, while the City of Cambridge lists them as 2 bedrooms.
Key Highlights
- Completely renovated 4‑family property with condo‑quality finishes and in‑unit laundry in every unit
- All units feature gourmet kitchens with white cabinetry, quartz counters, and stainless‑steel appliances
- Central A/C plus fireplaces in multiple units (4 total; gas in the first‑floor units and electric in the upper units)
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
$108,553
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
3.29%
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%
$2,171,060
$2.2M
Cap Rate 7%
$1,550,757
$1.6M
Cap Rate 9%
$1,206,144
$1.2M
Market Conditions
NOI Build-Up for 5,130 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
$163.1K $31.80/SF
− Vacancy
−$8.1K −$1.57/SF
EGI
$155.1K $30.23/SF
− OpEx
−$46.5K −$9.07/SF
NOI
$108.6K $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%
$2,171,060
Cap Rate 7%
$1,550,757
Cap Rate 9%
$1,206,144
Alternative Uses
Best Use
Multifamily LT 5
$1.55M
$1.36M – $1.81M
NOI $108,553 @ 7.0% cap · market cap 3.29%
Second Best
Apartment 5plus
$1.46M
$1.28M – $1.70M
NOI $102,070 @ 7.0% cap · market cap 3.09%
Theoretical Best
Office A
$3.04M
$2.66M – $3.54M
NOI $212,586 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,538
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?
Quadplex - Completely renovated four-unit property with in-unit laundry, central A/C, and off-street parking for six vehicles.
Where is this quadplex located?
The property is located at 32 Cameron Avenue Somerville, MA.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Completely renovated 4‑family property with condo‑quality finishes and in‑unit laundry in every unit; All units feature gourmet kitchens with white cabinetry, quartz counters, and stainless‑steel appliances; Central A/C plus fireplaces in multiple units (4 total; gas in the first‑floor units and electric in the upper units)
