20-Room Apartment
New
For Sale
$1,995,000
450 Ferry Street, Everett, MA 02149
A bus stop at the property supports commuter access to nearby regional destinations.
Property Size5,558 SF
Price / SF$358.94
Days on Market7
Property Features for 450 Ferry Street
General Information
Standard status
Active
Size
5,558 SF
Property subtype
Multi-family
Lease Term
[]
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Building Details
Year Built
1989
Listing Agency:
Marcus & Millichap Real Estate Investment Services
Listed By:
Evan Griffith
(781) 645-0505
Source:
Yourhomeforsale
Added: Oct 1
Changed: Oct 6
Last Checked: Oct 5 at 8:50PM
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 Marcus & Millichap Real Estate Investment Services
Investment Insights
Based on property information with market context.
Built in 1989, this 5,558-square-foot apartment property is configured as a 20-room lodging house with 14 bathrooms. Heating and hot water are supplied through a master gas system, with those costs paid by the owner; each unit has an individual electric meter.
A bus line stop is located in front of the building. The property offers access to downtown Boston’s Financial District, Assembly Row, Encore Casino and Revere Beach.
A bus line stop is located in front of the building. The property offers access to downtown Boston’s Financial District, Assembly Row, Encore Casino and Revere Beach.
Key Highlights
- 20‑room lodging house with 14 bathrooms
- 5,558 square feet of building area
- Built in 1989
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$110,585
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,211,700
$2.2M
Cap Rate 7%
$1,579,786
$1.6M
Cap Rate 9%
$1,228,722
$1.2M
Market Conditions
NOI Build-Up for 5,558 SF
Gross rent
$212.1K $38.16/SF
− Vacancy
−$11.0K −$1.98/SF
EGI
$201.1K $36.18/SF
− OpEx
−$90.5K −$16.28/SF
NOI
$110.6K $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 Rate 5%
$2,211,700
Cap Rate 7%
$1,579,786
Cap Rate 9%
$1,228,722
Alternative Uses
Best Use
Apartment 5plus
$1.58M
$1.38M – $1.84M
NOI $110,585 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.29M
$2.88M – $3.84M
NOI $230,322 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,147
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - A bus stop at the property supports commuter access to nearby regional destinations.
Where is this apartment building located?
The property is located at 450 Ferry Street Everett, MA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 20‑room lodging house with 14 bathrooms; 5,558 square feet of building area; Built in 1989
