Renovated 8-Unit Apartment
For Sale
$2,350,000
81 Chelsea St, Everett, MA 02149
Eight residential units share a consistent one-bedroom, one-bathroom layout within a recently upgraded multifamily property.
Property Size4,800 SF
Price / SF$489.58
Days on Market132
Property Features for 81 Chelsea St
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Multi-Family
Zoning
BD
Net Operating Income
$166,000
Units
Unit Mix
8 x 1BR/1BA
Multifamily Units
8
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$13,824
Building Details
Building Size
4,800 SF
Year Built
1925
Stories
5
Listing Agency:
Compass
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Apr 22
Changed: Aug 29
Last Checked: Aug 31 at 1:35PM
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 Compass
Investment Insights
Based on property information with market context.
This 8-unit apartment building contains an all one-bedroom, one-bathroom unit mix, creating a consistent residential configuration across the property. The 4,800-square-foot building was constructed in 1925 and received a full renovation a few years ago, including refreshed interiors, contemporary finishes, and system improvements. The property is zoned BD.
Located in Everett, the building offers access to major routes and public transportation. The property may also be sold together with 91 Chelsea St, the neighboring property identified as MLS #73535690.
Located in Everett, the building offers access to major routes and public transportation. The property may also be sold together with 91 Chelsea St, the neighboring property identified as MLS #73535690.
Key Highlights
- 8‑unit multifamily building with an all one‑bedroom, one‑bathroom unit mix
- 4,800 SF building on Chelsea St in Everett, MA 02149
- Full renovation completed a few years ago
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$95,504
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,910,080
$1.9M
Cap Rate 7%
$1,364,343
$1.4M
Cap Rate 9%
$1,061,156
$1.1M
Market Conditions
NOI Build-Up for 4,800 SF
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.
Gross rent
$183.2K $38.16/SF
− Vacancy
−$9.5K −$1.98/SF
EGI
$173.6K $36.18/SF
− OpEx
−$78.1K −$16.28/SF
NOI
$95.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,910,080
Cap Rate 7%
$1,364,343
Cap Rate 9%
$1,061,156
Alternative Uses
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,504 @ 7.0% cap · market cap 4.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.84M
$2.49M – $3.32M
NOI $198,911 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,955
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
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 - Eight residential units share a consistent one-bedroom, one-bathroom layout within a recently upgraded multifamily property.
Where is this apartment building located?
The property is located at 81 Chelsea St Everett, MA.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 8‑unit multifamily building with an all one‑bedroom, one‑bathroom unit mix; 4,800 SF building on Chelsea St in Everett, MA 02149; Full renovation completed a few years ago
