Six-Unit Residential Income
For Sale
$2,500,000
8 Everett Street, Somerville, MA 02143
Well-maintained six-unit building with separate utilities, washer/dryer hookups, and natural gas heating in East Somerville.
Property Size6,755 SF
Price / SF$370.10
Days on Market458
Property Features for 8 Everett Street
General Information
Standard status
Active
Size
6,755 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
6
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
RE/MAX Innovative Properties
Listed By:
Raymond Boutin
(617) 236-0711
Source:
Campionre
Added: May 31, 2025
Changed: Jul 21
Last Checked: Aug 30 at 6:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Innovative Properties
Investment Insights
Based on property information with market context.
This well-maintained six-unit residential income building includes lead certificates and a unit mix of five three-bedroom units plus one four-bedroom unit. Each apartment has separate utilities, with tenants paying their own gas and electric, and all units feature washer and dryer hookups. The building uses natural gas for heating, supported by updated boilers and hot water heaters.
Located in the heart of East Somerville, the property is listed as just minutes from Union Square and approximately 900 feet to the T station, with nearby public transit and access to downtown Boston.
The offering is described as having a solid rental history and includes noted potential for condo conversion.
Located in the heart of East Somerville, the property is listed as just minutes from Union Square and approximately 900 feet to the T station, with nearby public transit and access to downtown Boston.
The offering is described as having a solid rental history and includes noted potential for condo conversion.
Key Highlights
- Well‑maintained six‑unit building built in 1910 in East Somerville, with lead certificates
- Unit mix: five 3‑bedroom units and one 4‑bedroom unit
- Separate utilities for each unit—tenants pay their own gas and electric
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
5.38%
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 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.00M
$3.50M – $4.67M
NOI $279,925 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
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 - Well-maintained six-unit building with separate utilities, washer/dryer hookups, and natural gas heating in East Somerville.
Where is this apartment building located?
The property is located at 8 Everett Street Somerville, MA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Well‑maintained six‑unit building built in 1910 in East Somerville, with lead certificates; Unit mix: five 3‑bedroom units and one 4‑bedroom unit; Separate utilities for each unit—tenants pay their own gas and electric
