Six-Unit Apartment
76-78 Perkins Street, Somerville, MA 02145
For Sale
$5,500,000
Fully occupied multifamily property with oversized residences, in-unit laundry, updated interiors, and access to two Orange Line stations.
Property Size8,688 SF
Days on Market57
Property Features for 76-78 Perkins Street
General Information
Standard status
Size
Property subtype
Occupancy
Financials
Gross Income
Average Monthly Rent
Site & Location
Highway Access
Public Transit
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
in-unit laundry
stainless appliances
granite counters
hardwood floors
recessed lighting
updated baths
Building Details
Building Size
Year Built
Year Renovated
Tenancy
Listing Agency:
Fiv Realty Co
Listed By:
Justin Blankenship · License MA #9538117
(781) 365-7984
Source:
Classifiedrealtygroup
Added: Sep 19
Changed: Nov 4
Last Checked: Nov 12 at 4:49AM
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 Fiv Realty Co
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Investment Insights
Based on property information with market context.
This six-unit apartment building includes six 4BR/2BA residences averaging approximately 1,448 SF. Each unit features in-unit laundry, stainless appliances, granite counters, hardwood flooring, recessed lighting, and updated bathrooms. The property is fully occupied, with each apartment leased on a single 12-month term through 8/31/27. Comprehensive renovation work was completed in 2018, including electrical service upgraded to 400 AMP, plumbing improvements, and updated water heaters. Vinyl siding was replaced in 2017, the flat rubber membrane roof was replaced in 2022, and the property received new sidewalks and six Burnham boilers in 2026.
Located at 76-78 Perkins Street in Somerville, the property is approximately 0.3 miles from Sullivan Square Orange Line station, with Assembly Station also nearby. I-93 and Route 1 provide regional access, while Downtown Boston is roughly 2 miles away. Assembly Row, Inman Square, Cambridge Crossing, Hood Park, Encore Boston Harbor, and the Mystic River are all within the surrounding area.
Located at 76-78 Perkins Street in Somerville, the property is approximately 0.3 miles from Sullivan Square Orange Line station, with Assembly Station also nearby. I-93 and Route 1 provide regional access, while Downtown Boston is roughly 2 miles away. Assembly Row, Inman Square, Cambridge Crossing, Hood Park, Encore Boston Harbor, and the Mystic River are all within the surrounding area.
Key Highlights
- Six 4BR/2BA apartments averaging approximately 1,448 SF each
- Fully occupied with leases extending through 8/31/27
- Comprehensively renovated in 2018
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$172,862
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,457,240
$3.5M
Cap Rate 7%
$2,469,457
$2.5M
Cap Rate 9%
$1,920,689
$1.9M
Market Conditions
NOI Build-Up for 8,688 SF
Gross rent
$331.5K $38.16/SF
− Vacancy
−$17.2K −$1.98/SF
EGI
$314.3K $36.18/SF
− OpEx
−$141.4K −$16.28/SF
NOI
$172.9K $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%
$3,457,240
Cap Rate 7%
$2,469,457
Cap Rate 9%
$1,920,689
Alternative Uses
Best Use
Apartment 5plus
$2.47M
$2.16M – $2.88M
NOI $172,862 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.14M
$4.50M – $6.00M
NOI $360,028 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,761
Businesses Nearby
Explore this area
Business Placement
Demographics for 02145, MA
27,520
Population
12,669
Households
2.2
Avg Household Size
33
Median Age
55%
College-Educated
89%
High-School Grad
1.4 sq mi
ZIP Area
19,657
Density / Sq Mi
$119,167
Median Household Income
$63,629
Median Earnings
$2,377
Median Rent
$784,900
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in Somerville, MA
Properties on Market for Apartment buildings in Somerville
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with oversized residences, in-unit laundry, updated interiors, and access to two Orange Line stations.
Where is this apartment building located?
The property is located at 76-78 Perkins Street Somerville, MA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: Six 4BR/2BA apartments averaging approximately 1,448 SF each; Fully occupied with leases extending through 8/31/27; Comprehensively renovated in 2018
