Fully Renovated
For Sale
$1,099,000
16 Oakes Street, Everett, MA 02149
Turnkey multi-family renovated with new roof, updated kitchens and baths, stainless-steel appliances, and off-street parking.
Property Size2,808 SF
Lot Size0.11 Acres
Price / SF$391.38
Days on Market119
Property Features for 16 Oakes Street
General Information
Standard status
Active
Size
2,808 SF
Lot size
0.11 Acres
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
High Quality Real Estate LLC
Listed By:
Ranjan Thapa
(508) 823-9400
Source:
Ballowhutchinsonrealestate
Added: May 4
Changed: Aug 28
Last Checked: Aug 29 at 10:44AM
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 High Quality Real Estate LLC
Investment Insights
Based on property information with market context.
This fully renovated multi-family property is presented as turnkey and move-in ready, with a complete top-to-bottom refresh. Updates include a whole new roof, brand-new flooring throughout, fully renovated kitchens and bathrooms, and all-new stainless-steel appliances. The offering is positioned for flexible living arrangements, office space use, or expanded rental income.
Set on a 4,805 sq ft lot, the property provides outdoor space along with off-street parking and a freshly paved driveway. The address is located within walking distance to Encore Boston Harbor Casino, and near the proposed New England Revolution stadium development.
The home is also described as close to Assembly Row, shopping and dining, public transportation, and major highways, with an approximate 10–15 minute drive to Downtown Boston.
Set on a 4,805 sq ft lot, the property provides outdoor space along with off-street parking and a freshly paved driveway. The address is located within walking distance to Encore Boston Harbor Casino, and near the proposed New England Revolution stadium development.
The home is also described as close to Assembly Row, shopping and dining, public transportation, and major highways, with an approximate 10–15 minute drive to Downtown Boston.
Key Highlights
- Fully renovated multi‑family with year built 1910
- New roof, brand‑new flooring throughout, and all‑new stainless‑steel appliances
- Fully renovated kitchens and bathrooms with updated systems and finishes
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
$55,870
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
5.08%
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%
$1,117,400
$1.1M
Cap Rate 7%
$798,143
$798.1K
Cap Rate 9%
$620,778
$620.8K
Market Conditions
NOI Build-Up for 2,808 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
$107.2K $38.16/SF
− Vacancy
−$5.6K −$1.98/SF
EGI
$101.6K $36.18/SF
− OpEx
−$45.7K −$16.28/SF
NOI
$55.9K $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%
$1,117,400
Cap Rate 7%
$798,143
Cap Rate 9%
$620,778
Alternative Uses
Best Use
Apartment 5plus
$798.1K
$698.4K – $931.2K
NOI $55,870 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,363 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,636
Businesses Nearby
Explore this area
Business Placement
Demographics for 02149, MA
49,075
Population
18,541
Households
2.6
Avg Household Size
35
Median Age
23%
College-Educated
80%
High-School Grad
3.4 sq mi
ZIP Area
14,434
Density / Sq Mi
$79,658
Median Household Income
$40,836
Median Earnings
$1,988
Median Rent
$605,200
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?
Multifamily property - Turnkey multi-family renovated with new roof, updated kitchens and baths, stainless-steel appliances, and off-street parking.
Where is this multifamily property located?
The property is located at 16 Oakes Street Everett, MA.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Fully renovated multi‑family with year built 1910; New roof, brand‑new flooring throughout, and all‑new stainless‑steel appliances; Fully renovated kitchens and bathrooms with updated systems and finishes
