Active
2 Days on market
76-78 Perkins Street Somerville — Photo 1 of 39

76-78 Perkins Street Somerville — Photo 1 of 39

$5,500,000

Investment Analysis — 76-78 Perkins Street

Somerville, MA 02145 — East Somerville

Based on rent reported on the MLS listing, a 6-unit multi-family in 02145 carries $28,800/mo in gross rent — about a 3.86% cap rate and $212,259/yr in estimated NOI at the $5,500,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

24

Baths

12

SqFt

8,688

Style

5-9 Family

Built

1900

Stability, scale and a long runway for capital improvements define 76-78 Perkins Street, a fully occupied six-family positioned for investors seeking durable cash flow without an immediate value-add or CapEx story. The property contains six oversized 4BR/2BA residences averaging approx. 1,448 SF, each with in-unit laundry, stainless appliances, granite counters, hardwood floors, recessed lighting and updated baths. Each apartment is leased under a single 12-month lease at $4,800/month through 8/31/27 - $28,800/month in scheduled rent with an annual gross of $345,600 - providing immediate income and unusually consistent lease stability across the asset. Comprehensively renovated in 2018, the building has benefited from substantial capital investment: electrical upgraded to 400 AMP service, plumbing and water heaters updated in 2018, vinyl siding replaced in 2017, flat rubber membrane roof replaced in 2022, plus new sidewalks and six Burnham boilers installed in 2026. The result is a well-maintained, turnkey asset with no known major capital project on the immediate horizon and a strong runway before significant work is anticipated. Location reinforces the investment case. Sullivan Square Orange Line is approx. 0.3 miles away, with Assembly Station also nearby, offering two convenient Orange Line options. I-93 and Route 1 are easily accessible, while Downtown Boston is roughly 2 miles away. Residents are minutes from Assembly Row, Inman Square, Cambridge Crossing, Hood Park, Encore Boston Harbor and the Mystic River. The immediate area continues to attract major public and private investment through additional Assembly Row development, ongoing Cambridge Crossing and Hood Park buildout, the planned Rutherford Ave/Sullivan Square transformation and the proposed New England Revolution waterfront stadium in Everett. A rare opportunity to acquire six-unit diversification, highly rentable oversized layouts and a stabilized income stream in one of Greater Boston's most supply-constrained multifamily markets.

Estimates — not financial advice

These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.

Property Details

Financials

Original Price$5,500,000
Annual Taxes$50,397.1

Parking

Garage0
Off-Street0

Interior Specifications

Total Rooms36
FireplacesNone
FlooringWood
BasementFull, Concrete, Unfinished

Climate & Utilities

HeatingBaseboard, Natural Gas
CoolingWindow Unit(s)
WaterPublic
SewerPublic Sewer

Building & Exterior

Construction--
RoofRubber
FoundationStone
ZoningUR

Property & Lot

Acres0.17
SqFt Lot7,405.2
Lot FeaturesZero Lot Line

Amenities & Appliances

Range • Dishwasher • Disposal • Microwave • Refrigerator • Freezer • Washer • Dryer

Neighborhood

Public Transportation • Shopping • Pool • Tennis Court(s) • Park • Walk/Jog Trails

Geography

Listing Provided By

Listing Agent: Justin Blankenship

Listing Office: Hartley Realty Group

MLS® Number: 73579475