Triplex with On-Site
New
For Sale
$1,150,000
42 Pearl Street, Everett, MA 02149
One apartment is vacant, while the other two are occupied, providing flexibility for an owner-occupant or rental operation.
Property Size3,537 SF
Price / SF$325.13
Days on Market5
Property Features for 42 Pearl Street
General Information
Standard status
Active
Size
3,537 SF
Property subtype
Multi-family
Lease Term
[]
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Amenities
rear porch
laundry
basement access
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Gibson Sotheby's International Realty
Listed By:
The Margie and Jon Team
(617) 262-6200
Source:
Cabotandcompany
Added: Oct 8
Changed: Oct 11
Last Checked: Oct 11 at 8:36AM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
This 3,537-square-foot triplex, built in 1900, contains three apartments, each with more than two bedrooms, one full bathroom, high ceilings, and a rear porch. One unit is vacant and the other two are occupied. Separate utilities and heating systems serve the apartments, with laundry and basement access also included. Recent work includes new paint and carpeting in the common hallway and fresh paint in Unit 2. All three units have Letters of Full Compliance dated 2019 or 2020.
A driveway provides parking for approximately 4–5 vehicles and leads to a garage that could accommodate two cars with improvements. The property is just off Main Street, near local shops, restaurants, and MBTA bus service connecting to the Orange Line. Route 93, downtown Boston, and Logan Airport are accessible from the area, and Encore Boston Harbor is approximately one mile away.
A driveway provides parking for approximately 4–5 vehicles and leads to a garage that could accommodate two cars with improvements. The property is just off Main Street, near local shops, restaurants, and MBTA bus service connecting to the Orange Line. Route 93, downtown Boston, and Logan Airport are accessible from the area, and Encore Boston Harbor is approximately one mile away.
Key Highlights
- Three apartments totaling 3,537 square feet
- Each apartment has 2+ bedrooms, one full bath, and a rear porch
- One unit is vacant; two units are occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,844
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,496,880
$1.5M
Cap Rate 7%
$1,069,200
$1.1M
Cap Rate 9%
$831,600
$831.6K
Market Conditions
NOI Build-Up for 3,537 SF
Gross rent
$112.5K $31.80/SF
− Vacancy
−$5.6K −$1.57/SF
EGI
$106.9K $30.23/SF
− OpEx
−$32.1K −$9.07/SF
NOI
$74.8K $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 Rate 5%
$1,496,880
Cap Rate 7%
$1,069,200
Cap Rate 9%
$831,600
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$935.6K – $1.25M
NOI $74,844 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$1.01M
$879.7K – $1.17M
NOI $70,374 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$2.09M
$1.83M – $2.44M
NOI $146,572 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,501
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - One apartment is vacant, while the other two are occupied, providing flexibility for an owner-occupant or rental operation.
Where is this triplex located?
The property is located at 42 Pearl Street Everett, MA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Three apartments totaling 3,537 square feet; Each apartment has 2+ bedrooms, one full bath, and a rear porch; One unit is vacant; two units are occupied
