536 Broadway 15 Unit Apartment Building $5,980,000 ($398,667/Unit) 6.13% Cap Rate Everett, MA 02149

536 Broadway is a premier multifamily investment opportunity located in a thriving Greater Boston submarket. This freestanding, low-rise brick apartment was fully gut-renovated in 2024 and now features 15 all-electric residential units, offering modern living. The property is fully stabilized and generates a gross annual income of $468,564. The unit mix includes seven spacious two-bedroom apartments, six one-bedroom units, one loft, and one studio, totaling 22 bedrooms and 22 bathrooms. Each unit is equipped with individual heating and cooling systems, as well as in-unit laundry facilities, providing tenants with comfort and convenience. High-end finishes include stainless steel appliances, quartz countertops, luxury vinyl tile flooring, high-speed internet access in every unit, and porcelain-tiled showers with sleek glass enclosures. The building is powered by an 800-amp electrical service and features an energy-efficient thermoplastic polyolefin roof, a secure intercom system, and surveillance cameras.

Designed in a Classical Revival style, this property stands out as a rare architectural gem in a rapidly growing neighborhood. Residents enjoy walkable access to local restaurants, retail shops, and essential services, including Dunkin’ Donuts, Bank of America, the United States Post Office, and Everett City Hall. The location offers exceptional connectivity, with direct access to the Orange Line subway, five commuter rail stations within a 5-mile radius, and Logan International Airport, only 11 minutes from the property. Popular destinations such as Downtown Boston, Back Bay, Encore Boston Harbor, and Assembly Row are all within a 20-minute drive.

The surrounding area is experiencing strong demographic and economic growth, with 1.8 million residents within a 10-mile radius and an average household income of $127,347. Over half of the population is college-educated, and 69% live in one- or two-person apartments, making the unit sizes at 536 Broadway ideally suited to market demand. Additionally, the median year built for homes in the area is 1949, with 50% constructed between 1940 and 1949, further highlighting the value of new, modern housing stock. Year-over-year rent growth is currently at 1.2%, outpacing the national average of 0.7%

536 Broadway is a turnkey multifamily asset offering strong cash flow, high occupancy, low maintenance, and long-term appreciation potential. With its strategic location, modern amenities, and favorable market conditions, this property represents a rare and valuable opportunity for investors seeking stable returns and growth in one of Boston’s most desirable submarkets.