Six-Unit Apartment Building with Lead
For Sale
$2,400,000
8 Everett St, Somerville, MA 02143
Well-maintained six-unit property with tenant-paid utilities and in-unit laundry hookups.
Property Size6,755 SF
Price / SF$355.29
Days on Market482
Property Features for 8 Everett St
General Information
Standard status
Active
Size
6,755 SF
Property subtype
Multi-Family
Zoning
CBD
Net Operating Income
$114,054
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$26,468
Building Details
Building Size
6,755 SF
Year Built
1910
Stories
3
Listing Agency:
RE/MAX Innovative Properties
(978) 452-4432
Listed By:
Raymond Boutin · License #9026126
(978) 502-8352
Source:
Churchillprop
Added: Jun 16, 2025
Changed: Oct 6
Last Checked: Oct 9 at 5:55PM
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
Investment Insights
Based on property information with market context.
This well-maintained six-unit apartment building includes lead certificates. The mix features five three-bedroom units and one four-bedroom unit, with separate utilities for each unit so tenants pay their own gas and electric. Heating is provided by natural gas, and the building has updated boilers and hot water heaters. All units include washer and dryer hookups, supporting day-to-day resident convenience.
The property is located in East Somerville and is described as minutes from Union Square. Public transit access is noted, including being about 900 feet to the T Station and convenient access to downtown Boston.
For buyers seeking a residential income asset, the unit configuration offers a straightforward tenant setup with separate utility responsibility and consistent heating and hot water service via the building systems. The presence of updated boilers and hot water heaters, along with laundry hookups across the building, may support ongoing resident appeal. Unit six is identified as a three-bedroom unit paying $2,700 (TAW), and the remarks note a solid rental history. The property is also described as having potential for condo conversion.
The property is located in East Somerville and is described as minutes from Union Square. Public transit access is noted, including being about 900 feet to the T Station and convenient access to downtown Boston.
For buyers seeking a residential income asset, the unit configuration offers a straightforward tenant setup with separate utility responsibility and consistent heating and hot water service via the building systems. The presence of updated boilers and hot water heaters, along with laundry hookups across the building, may support ongoing resident appeal. Unit six is identified as a three-bedroom unit paying $2,700 (TAW), and the remarks note a solid rental history. The property is also described as having potential for condo conversion.
Key Highlights
- Well‑maintained 6‑unit building built in 1910 in East Somerville
- Unit mix: five 3‑bedroom units and one 4‑bedroom unit
- Separate utilities—tenants pay their own gas and electric; natural gas heating
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$134,402
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,688,040
$2.7M
Cap Rate 7%
$1,920,029
$1.9M
Cap Rate 9%
$1,493,356
$1.5M
Market Conditions
NOI Build-Up for 6,755 SF
Gross rent
$257.8K $38.16/SF
− Vacancy
−$13.4K −$1.98/SF
EGI
$244.4K $36.18/SF
− OpEx
−$110.0K −$16.28/SF
NOI
$134.4K $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%
$2,688,040
Cap Rate 7%
$1,920,029
Cap Rate 9%
$1,493,356
Alternative Uses
Best Use
Apartment 5plus
$1.92M
$1.68M – $2.24M
NOI $134,402 @ 7.0% cap · market cap 5.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.00M
$3.50M – $4.67M
NOI $279,925 @ 7.0% cap · market cap 11.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
3,606
Businesses Nearby
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Business Placement
Demographics for 02143, MA
26,022
Population
12,901
Households
2
Avg Household Size
33
Median Age
74%
College-Educated
95%
High-School Grad
1.5 sq mi
ZIP Area
17,348
Density / Sq Mi
$126,102
Median Household Income
$73,055
Median Earnings
$2,424
Median Rent
$930,200
Median Home Value
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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?
Apartment building - Well-maintained six-unit property with tenant-paid utilities and in-unit laundry hookups.
Where is this apartment building located?
The property is located at 8 Everett St Somerville, MA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Well‑maintained 6‑unit building built in 1910 in East Somerville; Unit mix: five 3‑bedroom units and one 4‑bedroom unit; Separate utilities—tenants pay their own gas and electric; natural gas heating
