Three-Unit Residential Income
211 Elm Everett, MA 02149
211 Elm, Everett, MA, 02149
$1,199,000
For Sale
$1,199,000
Three well-maintained residential units with separately metered utilities and recent electrical, plumbing, and heating updates.
Property Size2,600 SF
Price / SF$461.15
Days on Market233
Property Features for 211 Elm
General Information
- Standard status
- Active
- Size
- 2,600 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Grove Property Group
Listed by
Joseph Vecchione
(617) 262-6200
Source
Cabotandcompany
Added: Dec 1, 2025 Updated: Jul 21 at 4:28AM Checked: Jul 22 at 7:03AM
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 Grove Property Group
Investment Insights
Based on property information with market context.
Beautifully maintained three-family in Everett featuring a bonus 1-bedroom in-law apartment that is duplexed with Unit 1. The property offers stabilized in-place rents and separately metered utilities, with updated electrical, plumbing, and heating systems. All units have received interior updates within the last four years, supporting low-maintenance ownership.
The current configuration includes three units while also presenting an opportunity to pursue a legal 4th unit, subject to buyer due diligence. This is a strong fit for owner-occupants or investors seeking a turn-key residential income property with meaningful in-place updates and a potential path to expanded unit count at acquisition.
The current configuration includes three units while also presenting an opportunity to pursue a legal 4th unit, subject to buyer due diligence. This is a strong fit for owner-occupants or investors seeking a turn-key residential income property with meaningful in-place updates and a potential path to expanded unit count at acquisition.
Key Highlights
- 3‑family in Everett built in 1900 with a bonus 1‑bed in‑law apartment duplexed with Unit 1
- Stabilized asset operating at a 7% cap with strong in‑place rents
- Separately metered utilities for the units
Local Financial Insights For Multifamily LT 5
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 | $82.7k | $31.80 |
| − Vacancy | −$4.1k | −$1.57 |
| EGI | $78.6k | $30.23 |
| − OpEx | −$23.6k | −$9.07 |
| NOI | $55.0k | $21.16 |
2,600 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$786.0K
$687.7K – $917.0K
NOI $55,017 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$739.0K
$646.6K – $862.2K
NOI $51,731 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,743 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three well-maintained residential units with separately metered utilities and recent electrical, plumbing, and heating updates.
Where is this triplex located?
The property is located at 211 Elm Everett, MA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 3‑family in Everett built in 1900 with a bonus 1‑bed in‑law apartment duplexed with Unit 1; Stabilized asset operating at a 7% cap with strong in‑place rents; Separately metered utilities for the units
