Modern 9-Unit Apartment
For Sale
$5,900,000
260 Elm Street, Everett, MA 02149
Fully leased residential property offers contemporary finishes, private storage, off-street parking, and all-electric construction.
Property Size10,302 SF
Price / SF$572.70
Days on Market159
Property Features for 260 Elm Street
General Information
Standard status
Active
Size
10,302 SF
Total Parking Spaces
9
Property subtype
Multi-family / 5-9 Family
Zoning
Res
Occupancy
100%
Net Operating Income
$320,576
Units
Unit Mix
8 x 2BR/2BA, 1 x 3BR/2BA
Multifamily Units
9
Additional Details
Public Transit
Yes
Amenities
private storage
City/Town Sewer, Public
No
18.0
18
18.00
Corner Lot
Building Details
Year Built
2025
Listing Agency:
Red Spade Realty LLC
(781) 632-5307
Listed By:
Dariusz Zywina · License #9536159
(781) 632-5307
Source:
Compass
Added: Mar 26
Changed: Aug 30
Last Checked: Aug 30 at 7:47PM
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 Red Spade Realty LLC
Investment Insights
Based on property information with market context.
Completed in 2025, this 10,302-square-foot apartment building contains nine residential units: eight two-bedroom, two-bath homes and one three-bedroom, two-bath home. The residences feature contemporary finishes and an all-electric building system, with private storage available for occupants. Seven off-street parking spaces serve the property, which is situated on a corner lot.
Located at 260 Elm Street in Everett, the property offers access to bus routes serving Haymarket, Wonderland, and Wellington. The building is fully leased and carries Res zoning, providing an established residential income profile with a manageable nine-unit configuration.
Located at 260 Elm Street in Everett, the property offers access to bus routes serving Haymarket, Wonderland, and Wellington. The building is fully leased and carries Res zoning, providing an established residential income profile with a manageable nine-unit configuration.
Key Highlights
- Nine‑unit apartment building completed in 2025
- 10,302 SF property with eight 2 bed/2 bath units and one 3 bed/2 bath unit
- All units are leased
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
$204,975
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
3.47%
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%
$4,099,500
$4.1M
Cap Rate 7%
$2,928,214
$2.9M
Cap Rate 9%
$2,277,500
$2.3M
Market Conditions
NOI Build-Up for 10,302 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
$393.1K $38.16/SF
− Vacancy
−$20.4K −$1.98/SF
EGI
$372.7K $36.18/SF
− OpEx
−$167.7K −$16.28/SF
NOI
$205.0K $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%
$4,099,500
Cap Rate 7%
$2,928,214
Cap Rate 9%
$2,277,500
Alternative Uses
Best Use
Apartment 5plus
$2.93M
$2.56M – $3.42M
NOI $204,975 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.10M
$5.34M – $7.12M
NOI $426,912 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
760
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 - Fully leased residential property offers contemporary finishes, private storage, off-street parking, and all-electric construction.
Where is this apartment building located?
The property is located at 260 Elm Street Everett, MA.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: Nine‑unit apartment building completed in 2025; 10,302 SF property with eight 2 bed/2 bath units and one 3 bed/2 bath unit; All units are leased
