Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    East Somerville Six-Unit Multifamily Building Title is generated by Realmo AI

    8 Everett Street, Somerville, MA 02143

    View on Map
    Claim this Listing
    For Sale
    $2,500,000

    Well-maintained six-unit building near Union Square and public transit.

    Type:Multi-family
    Property size:
    6,755 SF
    Price / SF:
    $370/SF
    Added:
    May 26, 2025
    Days on Market:
    377
    Last Refresh:
    Apr 21 at 6:14 am

    Property Features for 8 Everett Street

    General Information

    Standard status
    Active
    Size
    6,755 SF
    Property subtype
    Multi-family

    Building Details

    Year Built
    1910

    We can help!

    Listing Contact
    Raymond Boutin

    Listing agent Raymond Boutin

    Listing office RE/MAX Innovative Properties

    Listing date May 26, 2025

    Source Stevebremis

    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 RE/MAX Innovative Properties

    HighLights

    • Prime location: Just 900 feet to the T Station, close to Union Square, public transit, and downtown Boston.
    • Strong rental income potential: Features a mix of five 3‑bedroom units and one 4‑bedroom unit in a high‑demand area.
    • Separate utilities: Tenants pay their own gas and electric, simplifying management.
    • Washer and dryer hookups in each unit.
    • Updated boilers and hot water heaters for improved energy efficiency.
    • Potential for condo conversion.

    Overview

    This well-maintained six-unit building is located in East Somerville, near Union Square, and 900 feet from the T Station, public transit, and downtown Boston. The property features five three-bedroom units and one four-bedroom unit. Each unit has separate utilities, with tenants responsible for gas and electric. All units include washer and dryer hookups, and natural gas is used for heating. Updated boilers and hot water heaters are in place. The apartments offer flexible layouts, large bedrooms, and natural light. The property has a solid rental history and potential for condo conversion. Unit six, a three-bedroom apartment, has laundry hookups and rents for $2,700 on a tenancy at will. The building has lead certificates and is located in a rapidly growing neighborhood. The property size is 6,755 square feet.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $257.8k $38.16
    − Vacancy −$13.4k −$1.98
    EGI $244.4k $36.18
    − OpEx −$110.0k −$16.28
    NOI $134.4k $19.90
    6,755 SF · lease $38.16/SF/yr · vacancy 5.20% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $1.92M
    $1.68M – $2.24M (±1% cap)
    NOI $134,402 @ 7.0% cap · market cap 5.38%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $4.00M
    $3.50M – $4.67M (±1% cap)
    NOI $279,925 @ 7.0% cap · market cap 11.20%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Somerville
    County
    Middlesex
    State
    Massachusetts
    Longitude
    -71.0956229
    Latitude
    42.3789358

    Nearby Similar for Sale

    • $1,200,000
      3,426 SF

      Two-Unit Residential Duplex

      Duplex with two separate units, private patios, basement laundry, and dedicated utility meters.
      39 Derby St, Somerville, MA 02145
      View Details
    • $1,350,000
      3,136 SF

      Somerville Two-Family Home For Sale

      Two-family home in desirable Somerville neighborhood near Cambridge and Davis Square.
      29 Victoria St, Somerville, MA 02144
      View Details
    • $1,599,000
      3,115 SF

      Somerville Mixed-Use Building For Sale

      Mixed-use building with residential and commercial units in Somerville.
      148 Pearl, Somerville, MA 02145
      View Details
    • $3,300,000
      8,060 SF

      Renovated Multifamily Building Near Gilman Square

      Fully renovated 6-unit building in Somerville's Winter Hill neighborhood.
      109 Walnut St, Somerville, MA 02145
      View Details
    • $1,399,000
      2,184 SF

      Turn-Key Two-Family Investment

      Meticulously maintained two-unit with recent plumbing and electrical updates plus off-street parking for 3+ cars.
      66 Gordon St, Somerville, MA 02144
      View Details
    • $1,699,000
      3,540 SF

      Somerville Multifamily Investment Opportunity

      East Somerville multifamily near transit and amenities, strong income potential.
      20 Autumn St, Somerville, MA 02145
      View Details
    • $2,400,000
      6,755 SF

      Somerville Multifamily Investment Opportunity

      Six-unit building near Union Square with strong rental income potential.
      8 Everett St, Somerville, MA 02143
      View Details
    • $2,950,000
      3,820 SF

      Inman Square Retail Opportunity

      Prime Somerville/Cambridge location with two retail units and parking.
      70 Beacon, Somerville, MA 02143
      View Details
    • $2,900,000
      10,848 SF

      Somerville Retail Investment Opportunity

      Fully occupied retail asset in high-visibility Somerville location for sale.
      163-179 Washington St, Somerville, MA 02143
      View Details
    • $1,049,000
      1,715 SF

      Ground-Floor Retail Condominium

      New retail condo delivered in shell condition with strong street-facing presence for flexible tenant buildout.
      71 Bow St, Somerville, MA, MA 02143
      View Details
    • $150,000

      Union Square Restaurant Opportunity

      Established Thai restaurant for sale in Union Square.
      93 Beacon, Somerville, MA 02143
      View Details
    • $1,569,900
      2,608 SF

      Davis Square Two-Family Home

      Well-maintained two-family home in desirable Davis Square.
      67 Irving Street, Somerville, MA 02144
      View Details

    FAQs

    What type of property is this?
    Apartment building - Well-maintained six-unit building near Union Square and public transit.
    Where is this apartment building located?
    The property is located at 8 Everett Street Somerville, MA.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Prime location: Just 900 feet to the T Station, close to Union Square, public transit, and downtown Boston.; Strong rental income potential: Features a mix of five 3‑bedroom units and one 4‑bedroom unit in a high‑demand area.; Separate utilities: Tenants pay their own gas and electric, simplifying management.
    We can help!
    Listing Contact
    Raymond Boutin
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    8 Everett Street, Somerville, MA 02143
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!