3-Unit Multifamily
94 Bromfield Rd, Somerville, MA 02144
For Sale
$1,650,000
Three vacant units, off-street parking, and a garage provide flexibility for residential occupancy.
Property Size3,385 SF
Price / SF$487.44
Days on Market12
Property Features for 94 Bromfield Rd
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Building Details
Year Built
Buildings
Listing Agency:
Entourage Realty LLC
Listed By:
Randall Horn
(781) 367-1598
Source:
Lockandkeyre
Added: Oct 28
Changed: Nov 7
Last Checked: Nov 7 at 3:37PM
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 Entourage Realty LLC
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Investment Insights
Based on property information with market context.
This 1905 multifamily property contains 3,385 square feet of living area and an additional 1,175-square-foot unfinished basement. The three units will be delivered vacant. The property has driveway parking for three cars, a garage, and attic space. Improvements include upgraded electrical panels and wiring, and the roof is approximately five years old. The property is offered as-is.
At 94 Bromfield Road in Somerville, the property is 0.1 mile from Tufts University, 0.3 mile from the Medford/Tufts Green Line station, and 0.7 mile from Davis Square and the Red Line. The property information identifies seven bedrooms and three bathrooms across the building.
At 94 Bromfield Road in Somerville, the property is 0.1 mile from Tufts University, 0.3 mile from the Medford/Tufts Green Line station, and 0.7 mile from Davis Square and the Red Line. The property information identifies seven bedrooms and three bathrooms across the building.
Key Highlights
- 3,385 square feet of living area plus 1,175 square feet of unfinished basement
- Three units to be delivered vacant
- Driveway parking for 3 cars and a garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,628
Cap Rate
4.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,432,560
$1.4M
Cap Rate 7%
$1,023,257
$1.0M
Cap Rate 9%
$795,867
$795.9K
Market Conditions
NOI Build-Up for 3,385 SF
Gross rent
$107.6K $31.80/SF
− Vacancy
−$5.3K −$1.57/SF
EGI
$102.3K $30.23/SF
− OpEx
−$30.7K −$9.07/SF
NOI
$71.6K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,432,560
Cap Rate 7%
$1,023,257
Cap Rate 9%
$795,867
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$895.4K – $1.19M
NOI $71,628 @ 7.0% cap · market cap 4.34%
Second Best
Apartment 5plus
$962.1K
$841.9K – $1.12M
NOI $67,350 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$2.00M
$1.75M – $2.34M
NOI $140,274 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,953
Businesses Nearby
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Business Placement
Demographics for 02144, MA
25,497
Population
11,881
Households
2.1
Avg Household Size
31
Median Age
75%
College-Educated
96%
High-School Grad
1.1 sq mi
ZIP Area
23,179
Density / Sq Mi
$140,591
Median Household Income
$74,639
Median Earnings
$2,654
Median Rent
$987,000
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Somerville, MA
Properties on Market for Triplexes in Somerville
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three vacant units, off-street parking, and a garage provide flexibility for residential occupancy.
Where is this triplex located?
The property is located at 94 Bromfield Rd Somerville, MA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 3,385 square feet of living area plus 1,175 square feet of unfinished basement; Three units to be delivered vacant; Driveway parking for 3 cars and a garage
