5-Unit Apartment
New
For Sale
$1,800,000
70 Columbus Ave, Somerville, MA 02143
Historic Somerville property with updated apartments, tandem parking, and recent building-system improvements near Union Square MBTA Station.
Property Size3,782 SF
Lot Size0.14 Acres
Price / SF$475.94
Days on Market6
Property Features for 70 Columbus Ave
General Information
Standard status
Active
Size
3,782 SF
Total Parking Spaces
3
Lot size
0.14 Acres
Property subtype
Residential Income
Zoning
NR
Net Operating Income
$83,031
Units
Unit Mix
5 x 1BR/1BA
Multifamily Units
5
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$17,715
Amenities
coin-operated laundry
Building Details
Building Size
3,782 SF
Year Built
1900
Buildings
1
Listing Agency:
Horvath & Tremblay
Listed By:
Tess Kohanski · License #9562955
(617) 213-7880
Source:
413realestate
Added: Sep 22
Changed: Sep 26
Last Checked: Sep 26 at 4:45AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
Located at 70 Columbus Avenue in Somerville, this historic apartment building contains five 1-bedroom/1-bathroom units within 3,782 square feet of gross living area and 5,878 square feet of gross area. The 0.14-acre parcel includes three tandem parking spaces and a full-height basement unit that currently produces no income.
Building improvements include six Burnham boilers installed in 2019, a new roof and extensive exterior work completed in 2022, replacement of approximately half the windows in 2025, and landlord-owned coin-operated laundry added in 2026. The driveway is underused and can accommodate at least three additional off-street parking spaces. The property is minutes from the new Union Square MBTA Train Station.
Building improvements include six Burnham boilers installed in 2019, a new roof and extensive exterior work completed in 2022, replacement of approximately half the windows in 2025, and landlord-owned coin-operated laundry added in 2026. The driveway is underused and can accommodate at least three additional off-street parking spaces. The property is minutes from the new Union Square MBTA Train Station.
Key Highlights
- Five 1‑bedroom/1‑bathroom apartment units
- 3,782 square feet of gross living area
- 5,878 square feet of gross area on a 0.14‑acre parcel
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
$75,249
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
4.18%
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%
$1,504,980
$1.5M
Cap Rate 7%
$1,074,986
$1.1M
Cap Rate 9%
$836,100
$836.1K
Market Conditions
NOI Build-Up for 3,782 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
$144.3K $38.16/SF
− Vacancy
−$7.5K −$1.98/SF
EGI
$136.8K $36.18/SF
− OpEx
−$61.6K −$16.28/SF
NOI
$75.2K $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 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%
$1,504,980
Cap Rate 7%
$1,074,986
Cap Rate 9%
$836,100
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$940.6K – $1.25M
NOI $75,249 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.24M
$1.96M – $2.61M
NOI $156,725 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,987
Businesses Nearby
Explore this area
Business Placement
Demographics for 02143, MA
26,022
Population
12,901
Households
2
Avg Household Size
33
Median Age
74%
College-Educated
95%
High-School Grad
1.5 sq mi
ZIP Area
17,348
Density / Sq Mi
$126,102
Median Household Income
$73,055
Median Earnings
$2,424
Median Rent
$930,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Historic Somerville property with updated apartments, tandem parking, and recent building-system improvements near Union Square MBTA Station.
Where is this apartment building located?
The property is located at 70 Columbus Ave Somerville, MA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Five 1‑bedroom/1‑bathroom apartment units; 3,782 square feet of gross living area; 5,878 square feet of gross area on a 0.14‑acre parcel
