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 Market178
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:
ENRG Global Realty, LLC
(857) 557-8949
Listed By:
Saad Munir
(781) 296-6446
Source:
Churchillprop
Added: Apr 22
Changed: Oct 6
Last Checked: Oct 14 at 9:02PM
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 ENRG Global Realty, LLC
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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 / Yr
$95,504
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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
