76-78 Perkins St, Somerville, MA 02145

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.