Six-Unit Apartment
For Sale
$2,400,000
8 Everett St, Somerville, MA 02143
Residential Income, Somerville, MA
Property Size6,755 SF
Lot Size0.09 Acres
Price / SF$355.29
Days on Market447
Property Features for 8 Everett St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CBD
Bedrooms
19
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 6, Bedroom 14, Bedroom 3, Bedroom 7, Bedroom 16, Bedroom 19, Bedroom 11, Bedroom 13, Bedroom 8, Bedroom 4, Bathroom 2, Bedroom 12, Bedroom 1, Bedroom 2, Bedroom 6, Bathroom 1, Bedroom 5, Bedroom 17, Bedroom 15, Bathroom 3, Bedroom 10, Bedroom 9, Bedroom 18, Bathroom 4, Bathroom 5
Elementary school
Sps
Middle school
Sps
High school
Shs
Directions
From Route 28 to Washington St to Prospect St to Newton St to Prospect to Somerville Street.
Standard status
Active
APN
M:82 B:C L:15,759233
Size
6,755 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
26468
Amenities
washer/dryer hookups
Building Details
Year built
1910
Floors in Building
3
Number of units
6
Listing Agency:
RE/MAX Innovative Properties · RE/MAX International
(978) 452-4432
Listed By:
Joshua Naughton · License #57445
(603) 434-4101
Added: Jun 16, 2025
Changed: Sep 4
Last Checked: Sep 5 at 4:06PM
MLS# 73391369
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1910, this 6,755-square-foot apartment building contains six units: five three-bedroom apartments and one four-bedroom apartment. The property has lead certificates, flexible apartment layouts, large bedrooms, and natural light. Every unit includes washer and dryer hookups, while heating is provided by natural gas. Boilers and hot water heaters have been updated.
Separate utilities place gas and electric costs with tenants. The property is in East Somerville, approximately 900 feet from the T Station, with access to public transit and downtown Boston. The building sits on 0.0888 acres and carries CBD zoning. A solid rental history and potential for condo conversion are also identified in the property information.
Separate utilities place gas and electric costs with tenants. The property is in East Somerville, approximately 900 feet from the T Station, with access to public transit and downtown Boston. The building sits on 0.0888 acres and carries CBD zoning. A solid rental history and potential for condo conversion are also identified in the property information.
Key Highlights
- Six‑unit building with five three‑bedroom units and one four‑bedroom unit
- 6,755 square feet on 0.0888 acres
- Approximately 900 feet to the T Station in East Somerville
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$134,402
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,688,040
$2.7M
Cap Rate 7%
$1,920,029
$1.9M
Cap Rate 9%
$1,493,356
$1.5M
Market Conditions
NOI Build-Up for 6,755 SF
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.
Gross rent
$257.8K $38.16/SF
− Vacancy
−$13.4K −$1.98/SF
EGI
$244.4K $36.18/SF
− OpEx
−$110.0K −$16.28/SF
NOI
$134.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,688,040
Cap Rate 7%
$1,920,029
Cap Rate 9%
$1,493,356
Alternative Uses
Best Use
Apartment 5plus
$1.92M
$1.68M – $2.24M
NOI $134,402 @ 7.0% cap · market cap 5.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.00M
$3.50M – $4.67M
NOI $279,925 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
3,606
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property near transit with separate tenant-paid utilities, laundry hookups, and updated boiler and hot water systems.
Where is this apartment building located?
The property is located at 8 Everett St Somerville, MA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Six‑unit building with five three‑bedroom units and one four‑bedroom unit; 6,755 square feet on 0.0888 acres; Approximately 900 feet to the T Station in East Somerville
