Three-Family with Two Parking
72 - 74 Park Street Somerville, MA 02143
72 - 74 Park Street, Somerville, MA, 02143
$1,795,000
For Sale
$1,795,000
Three-unit property with front and back porches, walk-out bays, and two side-by-side parking spaces.
Property Size3,545 SF
Lot Size6,000.00 Acres
Price / SF$506.35
Days on Market123
Property Features for 72 - 74 Park Street
General Information
- Standard status
- Active
- Size
- 3,545 SF
- Lot size
- 6,000.00 Acres
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
ERA Key Realty Services-Bay State Group
Listed by
The Kattman Team
(781) 545-3155
Source
Grandgables
Added: Mar 23 Updated: Jul 21 at 5:01AM Checked: Jul 22 at 7:15AM
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 ERA Key Realty Services-Bay State Group
Investment Insights
Based on property information with market context.
This stately three-family property offers three well-laid-out units, each featuring a living room open to a dining room, an eat-in kitchen with pantry, a full bath, and two bedrooms. The first-floor unit includes an additional flex room that can serve as an office or a third bedroom. Interior highlights include oversized tall windows and walk-out bays, vintage hutches in the dining rooms, and original wood trim and floors. The basement provides storage along with a dedicated laundry room, and the home includes both front and back porches.
Located on the Somerville/Cambridge line at 72–74 Park Street, the property is described as minutes to Harvard Square, Porter Square, and Kendall Square, with convenient access to public transportation including Red & Green lines.
A level yard area is included, along with two parking spaces positioned along the side of the house. The units have all enjoyed full occupancy over many years, with owner-occupied potential also noted in the remarks.
Located on the Somerville/Cambridge line at 72–74 Park Street, the property is described as minutes to Harvard Square, Porter Square, and Kendall Square, with convenient access to public transportation including Red & Green lines.
A level yard area is included, along with two parking spaces positioned along the side of the house. The units have all enjoyed full occupancy over many years, with owner-occupied potential also noted in the remarks.
Key Highlights
- Three‑family property on a level 6,000 SF lot with front and back porches
- Each unit features a living room open to the dining room, an eat‑in kitchen with pantry, a full bath, and two bedrooms
- First‑floor unit includes an additional flex room for an office or third bedroom
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 | $112.7k | $31.80 |
| − Vacancy | −$5.6k | −$1.57 |
| EGI | $107.2k | $30.23 |
| − OpEx | −$32.1k | −$9.07 |
| NOI | $75.0k | $21.16 |
3,545 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$937.7K – $1.25M
NOI $75,013 @ 7.0% cap · market cap 4.18%
Second Best
Apartment 5plus
$1.01M
$881.7K – $1.18M
NOI $70,534 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$2.10M
$1.84M – $2.45M
NOI $146,904 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-unit property with front and back porches, walk-out bays, and two side-by-side parking spaces.
Where is this triplex located?
The property is located at 72 - 74 Park Street Somerville, MA.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Three‑family property on a level 6,000 SF lot with front and back porches; Each unit features a living room open to the dining room, an eat‑in kitchen with pantry, a full bath, and two bedrooms; First‑floor unit includes an additional flex room for an office or third bedroom
