5-Unit Apartment
70 Columbus Ave, Somerville, MA 02143
For Sale
$1,800,000
Pending
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
Days on Market53
Property Features for 70 Columbus Ave
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Zoning
Net Operating Income
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Taxes and HOA fees
Annual Taxes
Amenities
coin-operated laundry
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Horvath & Tremblay
Listed By:
Tess Kohanski · License MA #9562955
(617) 213-7880
Source:
413realestate
Added: Sep 22
Changed: Nov 9
Last Checked: Nov 12 at 4:53AM
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
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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 / Yr
$75,249
Cap Rate
4.18%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,987
Businesses Nearby
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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
$930,200
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Somerville, MA
Properties on Market for Apartment buildings in Somerville
Vacancy Rate% for Multifamily in Northeast region
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
