Six-Unit Residential Income
8 Everett Street Somerville, MA 02143
8 Everett Street, Somerville, MA, 02143
$2,500,000
For Sale
$2,500,000
Well-maintained six-unit building with separate utilities, washer/dryer hookups, and natural gas heating in East Somerville.
Property Size6,755 SF
Price / SF$370.10
Days on Market418
Property Features for 8 Everett Street
General Information
- Standard status
- Active
- Size
- 6,755 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1910
Listing agency
RE/MAX Innovative Properties
Listed by
Raymond Boutin
(617) 236-0711
Source
Campionre
Added: May 31, 2025 Updated: Jul 21 at 2:47AM Checked: Jul 22 at 7:48AM
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 residential income building includes lead certificates and a unit mix of five three-bedroom units plus one four-bedroom unit. Each apartment has separate utilities, with tenants paying their own gas and electric, and all units feature washer and dryer hookups. The building uses natural gas for heating, supported by updated boilers and hot water heaters.
Located in the heart of East Somerville, the property is listed as just minutes from Union Square and approximately 900 feet to the T station, with nearby public transit and access to downtown Boston.
The offering is described as having a solid rental history and includes noted potential for condo conversion.
Located in the heart of East Somerville, the property is listed as just minutes from Union Square and approximately 900 feet to the T station, with nearby public transit and access to downtown Boston.
The offering is described as having a solid rental history and includes noted potential for condo conversion.
Key Highlights
- Well‑maintained six‑unit building built in 1910 in East Somerville, with lead certificates
- Unit mix: five 3‑bedroom units and one 4‑bedroom unit
- Separate utilities for each unit—tenants pay their own gas and electric
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
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
NOI $279,925 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained six-unit building with separate utilities, washer/dryer hookups, and natural gas heating in East Somerville.
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: Well‑maintained six‑unit building built in 1910 in East Somerville, with lead certificates; Unit mix: five 3‑bedroom units and one 4‑bedroom unit; Separate utilities for each unit—tenants pay their own gas and electric
