Six-Unit Renovated Apartment
For Sale
$2,300,000
Pending
20-22 Rockville Park, Boston, MA 02119
Residential Income, Boston, MA
Property Size4,296 SF
Lot Size0.13 Acres
Days on Market24
Property Features for 20-22 Rockville Park
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
11
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 9, Bathroom 4, Bedroom 6, Bedroom 5, Bedroom 4, Bedroom 11, Bedroom 10, Bathroom 3, Bedroom 7, Bathroom 6, Bedroom 8, Bathroom 5, Bathroom 2, Bedroom 3
Parking
10
Directions
Warren Street to Rockville Park
Subdivision
Roxbury
Standard status
Pending
Size
4,296 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15263
Building Details
Year built
1910
Floors in Building
5
Number of units
6
Listing Agency:
REMAX Andrew Realty Services · RE/MAX International
(781) 395-7676
Listed By:
John Veneziano
(617) 840-5499
Added: Aug 13
Changed: Sep 4
Last Checked: Sep 5 at 6:06AM
MLS# 73563111
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This apartment property comprises two semi-detached three-family homes held on separate deeds, creating a six-unit residential configuration. The buildings contain 4,296 square feet and were built in 1910, with renovations completed in 2021 and 2025. Improvements include modern kitchens with stainless appliances, recessed lighting, and broad plumbing and electrical system updates. Four of the six units are de-leaded, and the property includes 10 parking spaces.
The site is located on a dead-end street at 20-22 Rockville Park in Boston’s Roxbury area. Northeastern University, the Longwood Medical Area, and the South End are identified nearby. The property is zoned R3, and each home is eligible for residential financing.
The site is located on a dead-end street at 20-22 Rockville Park in Boston’s Roxbury area. Northeastern University, the Longwood Medical Area, and the South End are identified nearby. The property is zoned R3, and each home is eligible for residential financing.
Key Highlights
- Six‑unit configuration across two semi‑detached three‑family homes
- 4,296 square feet on 0.1348 acres
- Separate deeds for each three‑family home
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$100,922
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,018,440
$2.0M
Cap Rate 7%
$1,441,743
$1.4M
Cap Rate 9%
$1,121,356
$1.1M
Market Conditions
NOI Build-Up for 4,296 SF
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.
Gross rent
$190.7K $44.40/SF
− Vacancy
−$7.2K −$1.69/SF
EGI
$183.5K $42.71/SF
− OpEx
−$82.6K −$19.22/SF
NOI
$100.9K $23.49/SF
Area
Boston, MA
Vacancy
3.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,018,440
Cap Rate 7%
$1,441,743
Cap Rate 9%
$1,121,356
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,922 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.22M
$2.81M – $3.75M
NOI $225,179 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,897
Businesses Nearby
Explore this area
Business Placement
Demographics for 02119, MA
29,175
Population
12,937
Households
2.3
Avg Household Size
34
Median Age
30%
College-Educated
81%
High-School Grad
1.6 sq mi
ZIP Area
18,234
Density / Sq Mi
$43,255
Median Household Income
$38,664
Median Earnings
$1,252
Median Rent
$668,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two separate three-family homes offer updated systems, modern interiors, and on-site parking in Boston’s Roxbury area.
Where is this apartment building located?
The property is located at 20-22 Rockville Park Boston, MA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Six‑unit configuration across two semi‑detached three‑family homes; 4,296 square feet on 0.1348 acres; Separate deeds for each three‑family home
