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    8 Craigie St Somerville, MA 02143

    For Sale
    $9,500,000

    21-unit multifamily building near Harvard, Lesley, & MIT.

    Lot size:
    0.23 Acres

    Property Features for 8 Craigie St

    General Information

    Lot size
    0.23 Acres

    Building Details

    Year built
    1920

    Source: Compass Agent Donahue + Greene Group

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Somerville Multifamily Investment Opportunity

    This 21-unit building, featuring 42 bedrooms, is situated on a 0.23-acre lot. The property is located in Somerville, abutting Porter Square and the Cambridge/Somerville line, and is conveniently located near Harvard, Lesley, and MIT. The building is fully occupied and offers convenient access to lectures and campus life. The Red Line and bus routes are located nearby, providing commutes to Boston or Kendall Square. The property has a strong rental history and a low vacancy rate, with high demand from scholars and professionals.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Somerville
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.1128255
    Latitude
    42.3856457

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    FAQs

    What type of property is this?
    Apartment building - 21-unit multifamily building near Harvard, Lesley, & MIT.
    Where is this apartment building located?
    The property is located at 8 Craigie St Somerville, MA.
    What is the asking price?
    The asking price for this property is $9,500,000.
    What are key features of this property?
    This property features: - High CAP rate (just over 5%) indicating strong investment potential.; - Fully occupied building with a strong rental history and low vacancy rate.; - Prime location near Harvard, Lesley, & MIT, attracting scholars and professionals.
    (617) 633-3440
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    8 Craigie St Somerville, MA 02143
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