Turnkey Two-Family
34 Summer Street Somerville, MA 02143
34 Summer Street, Somerville, MA, 02143
$1,595,000
For Sale
$1,595,000
Impeccably maintained two-family with renovated kitchens, hardwood floors, and separate units currently generating monthly rental income.
Property Size3,341 SF
Price / SF$477.40
Days on Market133
Property Features for 34 Summer Street
General Information
- Standard status
- Active
- Size
- 3,341 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Coldwell Banker Realty - Cambridge
Listed by
Nathan Long
(617) 236-0353
Source
Thecharlesrealty
Added: Mar 13 Updated: Jul 22 at 2:43PM Checked: Jul 22 at 2:43PM
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 Coldwell Banker Realty - Cambridge
Investment Insights
Based on property information with market context.
This turnkey two-family property is impeccably maintained and configured as two separate units. The first unit is used as a 3 bed/2 bath across the first floor and lower level, with 1,128 square feet on the main level and 764 square feet on the lower level. The second unit is used as a 5 bed/1 bath across the second and third floors, with 1,110 square feet on the second floor and 339 square feet on the third. Both units feature abundant natural light, hardwood floors, and renovated kitchens.
The property is located on Summer Street in Somerville, steps from Bow Market and Union Square. The offering includes three tandem parking spaces for use by Unit 1 tenants.
Rental income is reported at $9,020 per month total, with Unit 1 at $4,200 and Unit 2 at $4,820, supported by a solid rental history.
The property is located on Summer Street in Somerville, steps from Bow Market and Union Square. The offering includes three tandem parking spaces for use by Unit 1 tenants.
Rental income is reported at $9,020 per month total, with Unit 1 at $4,200 and Unit 2 at $4,820, supported by a solid rental history.
Key Highlights
- Two‑family built in 1900 with two separate units, hardwood floors, and renovated kitchens
- Unit 1 (1st floor + lower level): 3 bed/2 bath with 1,128 SF main level and 764 SF lower level
- Unit 2 (2nd + 3rd floors): 5 bed/1 bath with 1,110 SF on the 2nd floor and 339 SF on the 3rd floor
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 | $106.2k | $31.80 |
| − Vacancy | −$5.2k | −$1.57 |
| EGI | $101.0k | $30.23 |
| − OpEx | −$30.3k | −$9.07 |
| NOI | $70.7k | $21.16 |
3,341 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$883.7K – $1.18M
NOI $70,697 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$949.6K
$830.9K – $1.11M
NOI $66,475 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,450 @ 7.0% cap · market cap 8.68%
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 - Impeccably maintained two-family with renovated kitchens, hardwood floors, and separate units currently generating monthly rental income.
Where is this duplex located?
The property is located at 34 Summer Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Two‑family built in 1900 with two separate units, hardwood floors, and renovated kitchens; Unit 1 (1st floor + lower level): 3 bed/2 bath with 1,128 SF main level and 764 SF lower level; Unit 2 (2nd + 3rd floors): 5 bed/1 bath with 1,110 SF on the 2nd floor and 339 SF on the 3rd floor
