Multifamily Property with Solar
New
For Sale
$1,174,900
35 Franklin Ave, Somerville, MA 02145
The property includes off-street parking and a fully enclosed backyard for outdoor use.
Property Size2,148 SF
Price / SF$546.97
Days on Market5
Property Features for 35 Franklin Ave
General Information
Standard status
Active
Size
2,148 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
NR
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,591
Amenities
solar panels
fully enclosed backyard
Building Details
Building Size
2,148 SF
Year Built
1890
Stories
3
Listing Agency:
Keller Williams Realty Boston Northwest
(617) 497-8900
Listed By:
Paul B. Campano · License #449530992
(617) 304-3686
Source:
Churchillprop
Added: Oct 16
Last Checked: Oct 19 at 3:46AM
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 Keller Williams Realty Boston Northwest
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Investment Insights
Based on property information with market context.
This multifamily property was built in 1890 and has received interior updates over time. The upper unit is currently used by the owner. Solar panels are installed on the roof and are owned with the property, and off-street parking is available. Zoning is NR.
The property is on a side street in Somerville, with access to public transportation on the Orange and Green lines and nearby highway access. Its fully enclosed backyard measures more than 1,350 square feet.
The property is on a side street in Somerville, with access to public transportation on the Orange and Green lines and nearby highway access. Its fully enclosed backyard measures more than 1,350 square feet.
Key Highlights
- Owned rooftop solar panels
- Fully enclosed backyard measuring 1350sqft+
- Off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,738
Cap Rate
3.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$854,760
$854.8K
Cap Rate 7%
$610,543
$610.5K
Cap Rate 9%
$474,867
$474.9K
Market Conditions
NOI Build-Up for 2,148 SF
Gross rent
$82.0K $38.16/SF
− Vacancy
−$4.3K −$1.98/SF
EGI
$77.7K $36.18/SF
− OpEx
−$35.0K −$16.28/SF
NOI
$42.7K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$854,760
Cap Rate 7%
$610,543
Cap Rate 9%
$474,867
Alternative Uses
Best Use
Apartment 5plus
$610.5K
$534.2K – $712.3K
NOI $42,738 @ 7.0% cap · market cap 3.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $89,013 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,795
Businesses Nearby
Explore this area
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
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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?
Multifamily property - The property includes off-street parking and a fully enclosed backyard for outdoor use.
Where is this multifamily property located?
The property is located at 35 Franklin Ave Somerville, MA.
What is the asking price?
The asking price for this property is $1,174,900.
What are key features of this property?
This property features: Owned rooftop solar panels; Fully enclosed backyard measuring 1350sqft+; Off‑street parking
