Seven-Unit Residential
For Sale
$949,000
22-26 Elm Rd, Everett, MA 02149
Opportunity to develop seven one-bedroom units at a single residential income property in Everett.
Property Size4,000 SF
Days on Market92
Property Features for 22-26 Elm Rd
General Information
Standard status
Active
Size
4,000 SF
Property subtype
5-9 Family
Additional Details
Highway Access
Yes
Multifamily Units
7
Building Details
Building Size
4,000 SF
Year Built
2026
Listing Agency:
Colarusso Realty
Listed By:
Alexander Colarusso
(617) 960-7731
Source:
Donnellyandco
Added: Jun 10
Changed: Sep 4
Last Checked: Sep 8 at 10:24AM
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 Colarusso Realty
Investment Insights
Based on property information with market context.
This offering presents a seven-unit residential development opportunity, with the proposed plan consisting of seven one-bedroom units. The property is being marketed as a development project within a strong rental and resale market, suited for investors and developers looking for a flexible path to stabilization or disposition.
The site is described as positioned on the Boston side of Everett, steps from the Riverwalk and within walking distance to Encore Boston Harbor. The remarks also note convenient access to Boston, major highways, public transportation, and nearby area amenities.
As presented, the asset provides a straightforward configuration for a new seven-unit buildout centered on one-bedroom unit design.
The site is described as positioned on the Boston side of Everett, steps from the Riverwalk and within walking distance to Encore Boston Harbor. The remarks also note convenient access to Boston, major highways, public transportation, and nearby area amenities.
As presented, the asset provides a straightforward configuration for a new seven-unit buildout centered on one-bedroom unit design.
Key Highlights
- Proposed 7‑unit residential development in Everett
- Plan includes seven 1‑bedroom units at a single residential income property
- Year built listed as 2026
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
$79,586
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
8.39%
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%
$1,591,720
$1.6M
Cap Rate 7%
$1,136,943
$1.1M
Cap Rate 9%
$884,289
$884.3K
Market Conditions
NOI Build-Up for 4,000 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
$152.6K $38.16/SF
− Vacancy
−$7.9K −$1.98/SF
EGI
$144.7K $36.18/SF
− OpEx
−$65.1K −$16.28/SF
NOI
$79.6K $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%
$1,591,720
Cap Rate 7%
$1,136,943
Cap Rate 9%
$884,289
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$994.8K – $1.33M
NOI $79,586 @ 7.0% cap · market cap 8.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.37M
$2.07M – $2.76M
NOI $165,759 @ 7.0% cap · market cap 17.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
7
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,420
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Opportunity to develop seven one-bedroom units at a single residential income property in Everett.
Where is this apartment building located?
The property is located at 22-26 Elm Rd Everett, MA.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Proposed 7‑unit residential development in Everett; Plan includes seven 1‑bedroom units at a single residential income property; Year built listed as 2026
