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Guillermo A Molina Jr

info@theomteam.com +1(978) 360-3441

$ 5,500,000

Est. payment | -/mo

24 Beds

12 Baths

8,688 SqFt

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$ 5,500,000

Est. payment | -/mo

Save

24 Beds

12 Baths

8,688 SqFt

Key Details

Property Type Multi-Family

Sub Type 5-9 Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,688 sqft

Price per Sqft $633

MLS Listing ID 73579475

Bedrooms 24

Full Baths 12

Year Built 1900

Annual Tax Amount $50,397

Tax Year 2026

Lot Size 7,405 Sqft

Acres 0.17

Property Sub-Type 5-9 Family

Property Description

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.

Location

State MA

County Middlesex

Area East Somerville

Zoning UR

Direction GPS

Rooms

Basement Full, Concrete, Unfinished

Interior

Interior Features Living Room, Kitchen, Laundry Room, Living RM/Dining RM Combo

Heating Baseboard, Natural Gas

Cooling Window Unit(s)

Flooring Wood

Appliance Range, Dishwasher, Disposal, Microwave, Refrigerator, Freezer, Washer, Dryer

Exterior

Fence Fenced

Community Features Public Transportation, Shopping, Pool, Tennis Court(s), Park, Walk/Jog Trails, Golf, Medical Facility, Bike Path, Conservation Area, Highway Access, House of Worship, Private School, Public School, T-Station, University, Sidewalks

Utilities Available for Gas Range, for Gas Oven

Roof Type Rubber

Garage No

Building

Lot Description Zero Lot Line

Story 4

Foundation Stone

Sewer Public Sewer

Water Public

Others

Senior Community false

Acceptable Financing Contract

Listing Terms Contract

Listed by Fiv Realty Co

NEARBY SCHOOLS & PROPERTIES

+1(978) 360-3441

info@theomteam.com

190 State Street Unit 5, Newburyport, MA 01950, United States

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76-78 Perkins Street Somerville, MA 02145