Two-Building 6-Unit Apartment
84 Cross Street Somerville, MA 02145
For Sale
$2,149,000
Updated 6-unit investment offered as a two-building package with dedicated patios and decks plus centralized laundry and parking.
Property Size4,661 SF
Price / SF$461.06
Days on Market424
Property Features for 84 Cross Street
General Information
- Standard status
- Active
- Size
- 4,661 SF
- Property subtype
- Multi-family / 5-9 Family
Building Details
- Year Built
- 1900
Listing Agency:
Mr. Chaddles Real Estate
(857) 222-6677
Listed By:
Chad Myers · License #9513938
(857) 222-6677
Source:
Compass
Added: May 27, 2025
Changed: Jul 23
Last Checked: Jul 23 at 7:46AM
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 Mr. Chaddles Real Estate
Investment Insights
Based on property information with market context.
An outstanding 6-unit investment opportunity is offered as a rare two-building package, now back on the market due to buyer financing falling through. The property is updated and well-maintained, with dedicated outdoor space for all six units, including private patios for the three lower units and decks for the three upper units.
The layout is complemented by 3-car parking, a centralized laundry room, and a large outside space located between the two buildings. The setting is described as sought-after East Somerville, with proximity to the Green Line Extension, Assembly Row, major routes, shops, and restaurants.
This well-kept multifamily property is positioned for continued income performance, and the offering notes multiple future strategies, including buy-and-hold income, potential condo conversion, or longer-term redevelopment.
The layout is complemented by 3-car parking, a centralized laundry room, and a large outside space located between the two buildings. The setting is described as sought-after East Somerville, with proximity to the Green Line Extension, Assembly Row, major routes, shops, and restaurants.
This well-kept multifamily property is positioned for continued income performance, and the offering notes multiple future strategies, including buy-and-hold income, potential condo conversion, or longer-term redevelopment.
Key Highlights
- Updated 6‑unit investment offered as a two‑building package
- All six units include dedicated outdoor space: three with private patios and three with their own decks
- 3‑car parking available plus a centralized laundry room
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 | $177.9k | $38.16 |
| − Vacancy | −$9.2k | −$1.98 |
| EGI | $168.6k | $36.18 |
| − OpEx | −$75.9k | −$16.28 |
| NOI | $92.7k | $19.90 |
4,661 SF · lease $38.16/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.32M
$1.16M – $1.55M
NOI $92,738 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.76M
$2.41M – $3.22M
NOI $193,151 @ 7.0% cap · market cap 8.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Updated 6-unit investment offered as a two-building package with dedicated patios and decks plus centralized laundry and parking.
Where is this apartment building located?
The property is located at 84 Cross Street Somerville, MA.
What is the asking price?
The asking price for this property is $2,149,000.
What are key features of this property?
This property features: Updated 6‑unit investment offered as a two‑building package; All six units include dedicated outdoor space: three with private patios and three with their own decks; 3‑car parking available plus a centralized laundry room
