7-9 Illinois Ave Somerville — Photo 1 of 36
$1,149,000
Investment Analysis — 7-9 Illinois Ave
Somerville, MA 02145
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 2-unit multi-family in 02145 carries an estimated $7,370/mo in gross rent — about a 4.87% cap rate and $55,973/yr in estimated NOI at the $1,149,000 list price. Adjust every assumption in the calculator below.
Beds
5
Baths
3
SqFt
2,320
Style
Multi Family
Built
1913
ATTENTION OWNER-OCCUPANTS, INVESTORS, CONTRACTORS & DEVELOPERS! Bring your vision to this East Somerville two-family, where location, space and opportunity come together and imagine what’s possible. A rare find with side-by-side off-street parking for approx. 6 cars PLUS a detached 2-car garage, accommodating approx. 8 vehicles total. Live in one unit while creating value in the other, renovate and hold as an investment, or explore future development potential. Just steps from Broadway and within walking distance to Assembly Row and Sullivan Square, this property puts you close to some of Somerville’s most desirable amenities while offering the space and flexibility to make it your own. Two residential units feature flexible layouts and bonus space, while the spacious basement with an existing full bathroom adds even more possibilities. Unit 7 is vacant; Unit 9 is currently tenanted and to be delivered vacant. Easy access to the Orange Line, I-93, Boston, shopping, dining and everything Assembly has to offer. Property sold as-is. Buyer and buyer’s agent to perform their own due diligence regarding property condition, zoning, permitted uses, development potential, and any intended use of the property.
Estimates — not financial advice
These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.
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Listing Agent: Monica Cordova
Listing Office: Berkshire Hathaway HomeServices Commonwealth Real Estate
MLS® Number: 73568610
