Vacant Three-Unit
For Sale
$899,000
Pending
29 Oakland Ave, Everett, MA 02149
Three residential units offer two-bedroom layouts, separate electrical services, and on-site parking.
Property Size2,709 SF
Days on Market86
Property Features for 29 Oakland Ave
General Information
Standard status
Pending
Size
2,709 SF
Total Parking Spaces
5
Property subtype
3 Family - 3 Units Up/Down
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$10,096
Building Details
Building Size
2,709 SF
Year Built
1900
Buildings
1
Listing Agency:
Colarusso Realty
(617) 960-7731
Listed By:
Alexander Colarusso
Source:
Downtownbostonrealty
Added: Jun 9
Changed: Aug 31
Last Checked: Aug 30 at 11:38PM
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.
Built in 1900, this three-unit residential property includes a consistent layout across all units, with each offering two bedrooms, one bathroom, and a living room. The building will be delivered vacant and includes separate electrical services for the units.
A large driveway provides parking for up to five vehicles, while the property also includes an oversized rear yard. Located at 29 Oakland Ave in Everett, the property is steps from Broadway and the bus line, providing access to nearby transportation connections.
A large driveway provides parking for up to five vehicles, while the property also includes an oversized rear yard. Located at 29 Oakland Ave in Everett, the property is steps from Broadway and the bus line, providing access to nearby transportation connections.
Key Highlights
- Three units, each with 2 bedrooms, 1 bathroom, and a living room
- Delivered vacant for the next owner
- Large driveway with parking for up to 5 vehicles
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
$57,323
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
6.38%
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%
$1,146,460
$1.1M
Cap Rate 7%
$818,900
$818.9K
Cap Rate 9%
$636,922
$636.9K
Market Conditions
NOI Build-Up for 2,709 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
$86.1K $31.80/SF
− Vacancy
−$4.3K −$1.57/SF
EGI
$81.9K $30.23/SF
− OpEx
−$24.6K −$9.07/SF
NOI
$57.3K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,146,460
Cap Rate 7%
$818,900
Cap Rate 9%
$636,922
Alternative Uses
Best Use
Multifamily LT 5
$818.9K
$716.5K – $955.4K
NOI $57,323 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$770.0K
$673.8K – $898.3K
NOI $53,900 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,260 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,734
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?
Triplex - Three residential units offer two-bedroom layouts, separate electrical services, and on-site parking.
Where is this triplex located?
The property is located at 29 Oakland Ave Everett, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three units, each with 2 bedrooms, 1 bathroom, and a living room; Delivered vacant for the next owner; Large driveway with parking for up to 5 vehicles
