Six-Unit Apartment Building Near
For Sale
$1,890,000
Pending
83 Shirley Ave, Revere, MA 02151
Fully occupied six-unit apartment building near Revere Beach.
Property Size4,719 SF
Lot Size0.11 Acres
Days on Market312
Property Features for 83 Shirley Ave
General Information
Standard status
Pending
Size
4,719 SF
Lot size
0.11 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$9,424
Building Details
Building Size
4,719 SF
Year Built
1900
Stories
5
Units
6
Listed By:
Luca Dell'Anese
(617) 650-4214
Source:
Elliman
Added: Nov 27, 2025
Changed: Sep 20
Last Checked: Oct 4 at 11:26AM
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 Luca Dell'Anese
Investment Insights
Based on property information with market context.
This is a six-unit apartment building spanning four floors. The property is fully occupied with stable tenants. It is located in the rapidly growing area of Revere, less than half a mile from the MBTA Revere Beach Blue Line T station and Revere Beach. The property is also near shops and amenities, and a short distance from Logan Airport and major highways. This property presents an investment opportunity.
Key Highlights
- Six‑unit apartment building offering a rare investment opportunity.
- Fully occupied with stable tenants.
- Located in fast‑growing Revere.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,975
Cap Rate
4.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,639,500
$1.6M
Cap Rate 7%
$1,171,071
$1.2M
Cap Rate 9%
$910,833
$910.8K
Market Conditions
NOI Build-Up for 4,719 SF
Gross rent
$158.6K $33.60/SF
− Vacancy
−$9.5K −$2.02/SF
EGI
$149.0K $31.58/SF
− OpEx
−$67.1K −$14.21/SF
NOI
$82.0K $17.37/SF
Area
Suffolk County, MA
Vacancy
6.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,639,500
Cap Rate 7%
$1,171,071
Cap Rate 9%
$910,833
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.02M – $1.37M
NOI $81,975 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.79M
$2.44M – $3.26M
NOI $195,554 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
903
Businesses Nearby
Explore this area
Business Placement
Demographics for 02151, MA
62,252
Population
23,461
Households
2.7
Avg Household Size
38
Median Age
25%
College-Educated
83%
High-School Grad
5.7 sq mi
ZIP Area
10,921
Density / Sq Mi
$80,948
Median Household Income
$43,374
Median Earnings
$1,964
Median Rent
$566,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Fully occupied six-unit apartment building near Revere Beach.
Where is this apartment building located?
The property is located at 83 Shirley Ave Revere, MA.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: Six‑unit apartment building offering a rare investment opportunity.; Fully occupied with stable tenants.; Located in fast‑growing Revere.
