Rare opportunity in prime Somerville! 116 Prospect St, a three-unit multi-family offers exceptional value for both investors and owner-occupants. Ideally located just minutes from Union Square (and the Green Line) in Somerville and Cambridge’s Inman Square, this property offers unbeatable convenience. Each unit includes private laundry and dedicated storage, garage parking for all three units, plus five additional off-street parking spots. Enjoy private balconies for each unit, full living and dining rooms in the second and third floor units, as well as bonus rooms perfect for a home office or guest space. The updated first-floor unit features two bedrooms and modern finishes. A smart investment in a vibrant, connected neighborhood. Property being sold AS IS for seller's convenience.
Sale Statistics
Sale Overview
Original List Price:$1,600,000
Final Sale Price:$1,565,000
Difference:
$35,000 (-2.2%)
Performance Metrics
97.8%
List to Sale Ratio
Sold below asking price
7
Days on Market
Quick sale
Price per Square Foot Analysis
Original $/sq ft:$539
Sale $/sq ft:$527
This property sold for $527 per square foot
Sale Summary
This property sold for 2.2% below the original asking price.
With only 7 days on market, this was a quick sale compared to typical market conditions.
Facts & Features
Property Overview
Property Type
3 Family - 3 Units Up/Down
Property Category
Residential Income
Year Built
1900
Bedrooms
4
Full Bathrooms
3
Living Area
2,970 sq ft
Total Rooms
18
Stories
3
Levels
3
Interior Features
Flooring
Wood, Carpet, Laminate
Heating
Baseboard, Hot Water
Has Heating
Yes
Cooling
Window Unit(s)
Has Cooling
Yes
Has Fireplace
No
Appliances
Range, Refrigerator, Washer, Dryer
Interior Features
Ceiling Fan(s), Bathroom With Tub & Shower, Living Room, Dining Room, Kitchen, Office/Den
Laundry Features
Gas Dryer Hookup, Electric Dryer Hookup
Basement Details
Full, Interior Entry, Concrete, Unfinished
Exterior & Structure
Construction Materials
Frame
Roof
Rubber
Foundation
Concrete Perimeter
Exterior Features
Balcony
Has Spa
No
Waterfront Property
No
Lot & Land
Lot Size
0.11 acres
Lot Size
4,680 sq ft
Lot Size Area
0.1100
Lot Features
Level
Road Frontage Type
Public
Parking & Garage
Garage Spaces
3
Has Garage
Yes
Total Non-Garage Parking Spaces
5
Parking Features
Paved Drive, Off Street
Covered Parking Spaces
3
Utilities & Systems
Utilities Available
for Gas Range, for Gas Oven, for Gas Dryer, for Electric Dryer
Water Source
Public
Sewer
Public Sewer
Electric
Circuit Breakers
Community & HOA
Community Features
Public Transportation, Shopping, Park, Walk/Jog Trails, Laundromat, Bike Path, Highway Access, House of Worship, T-Station
Senior Community
No
Financial & Tax Information
Annual Tax Amount
$13,972
Tax Year
2025
Tax Assessed Value
$1,280,700
Parcel Number
M:83 B:B L:23,759399
Zoning
RB
Financial Data Source
Owner
Additional Details
Year Built Source
Public Records
Year Built Details
Actual
Disclosures
Ask agent about details regarding garage repair.
Location
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Neighborhood
Union Square
116 Prospect St, Somerville MA 02143
Somerville, MA 02143
Walkability
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Schools
School information not available
Monthly Payment Calculator
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Estimated Monthly Payment$0
Payment Breakdown
Principal & Interest$0
Property Tax$1,164
Homeowners Insurance$200
PMI$0
Property History
Market Insights
2.2%
Price Range
8
Total Days on Market
Property Timeline
✓
Sold
Aug 4, 2025
$1,565,000
Property sold
Days on Market: 8
🏠
Listed for Sale
Jun 25, 2025
$1,600,000
Original listing
Agent: Michael O'BrienOffice: ERA Key Realty Services- Fram
