Somerville Multifamily Investment
8 Everett St Somerville, MA 02143
8 Everett St, Somerville, MA, 02143
$2,400,000
For Sale
$2,400,000
MULTI_FAMILY - Somerville, MA
Property Size6,755 SF
Lot Size0.09 Acres
Price / SF$355.29
Days on Market401
Property Features for 8 Everett St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- CBD
- Bedrooms
- 19
- Bathrooms
- 6
- Rooms
- Bedroom 11, Bedroom 4, Bathroom 3, Bathroom 5, Bedroom 16, Bedroom 15, Bathroom 4, Bedroom 8, Bedroom 2, Bedroom 18, Bathroom 1, Bedroom 19, Bedroom 12, Bedroom 10, Bedroom 14, Bedroom 1, Bedroom 7, Bedroom 6, Bedroom 13, Bathroom 6, Bedroom 17, Bedroom 5, Bathroom 2, Bedroom 9, Bedroom 3
- 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
Building Details
- Year built
- 1910
- Floors in Building
- 3
- Number of units
- 6
Listing agency
RE/MAX Innovative Properties
(978) 452-4432
Listed by
Joshua Naughton
(603) 434-4101
Added: Jun 16, 2025 Updated: Jul 11 at 6:36AM Checked: Jul 21 at 9:06PM
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.
This well-maintained six-unit building is located in the heart of East Somerville, placing it minutes from Union Square, approximately 900 feet from the T Station, public transit options, and downtown Boston. The property features five three-bedroom units and one four-bedroom unit, offering potential for rental income in a high-demand area. Each unit is equipped with separate utilities, where tenants are responsible for their own gas and electric expenses. Washer and dryer hookups are available in all units, and natural gas is used for heating. Updated boilers and hot water heaters contribute to comfort and energy performance. The apartments feature flexible layouts, large bedrooms, and natural light. The property, with a solid rental history and potential for condo conversion, is situated in one of Somerville's accessible and rapidly growing neighborhoods. One of the three-bedroom units currently generates $2,700 in monthly rent and has laundry hookups. The property size is 6,755 square feet and the lot size is 0.0888 acres.
Key Highlights
- Six‑unit building built in 1910 in East Somerville
- Unit mix: five 3‑bedroom units and one 4‑bedroom unit
- Separate utilities: tenants pay their own gas and electric; natural gas heat
Local Financial Insights For Apartment 5plus
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 | $257.8k | $38.16 |
| − Vacancy | −$13.4k | −$1.98 |
| EGI | $244.4k | $36.18 |
| − OpEx | −$110.0k | −$16.28 |
| NOI | $134.4k | $19.90 |
6,755 SF · lease $38.16/SF/yr · vacancy 5.20% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Six-unit building near Union Square with strong rental income potential.
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 built in 1910 in East Somerville; Unit mix: five 3‑bedroom units and one 4‑bedroom unit; Separate utilities: tenants pay their own gas and electric; natural gas heat
