Three-Building Multifamily
For Sale
$15,750,000
10-24 University Rd., Brookline, MA 02445
Portfolio of three contiguous 7-unit apartment buildings with surface parking and 21 total residential units.
Property Size35,512 SF
Lot Size0.54 Acres
Price / SF$271.89
Days on Market52
Property Features for 10-24 University Rd.
General Information
Standard status
Active
Size
35,512 SF
Total Parking Spaces
11
Lot size
0.54 Acres
Property subtype
Multifamily
Additional Details
Multifamily Units
21
Taxes and HOA fees
Annual Taxes
$180,992
Building Details
Building Size
35,512 SF
Year Built
1910
Tenancy
Multi
Listing Agency:
Coelho Realty Group LLC
Listed By:
Joe Danisch
(617) 477-8223
Source:
Classifiedrealtygroup
Added: Jul 24
Changed: Sep 4
Last Checked: Sep 13 at 5:43AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coelho Realty Group LLC
Investment Insights
Based on property information with market context.
This for-sale multifamily portfolio includes three contiguous apartment buildings addressed as 10–12, 16–18, and 22–24 University Rd. Each building is a 7-unit property, and the offering also includes eleven surface-level parking spaces on the combined parcels. The buildings contain gross area within the shells of 57,928 sq. ft., with 21 residential units totaling 35,512 sq. ft. of living space.
The unit mix includes eighteen (18) 4–5 bedroom dwellings across the first, second, and third levels, along with three (3) 1–2 bedroom dwellings on the garden levels. The remarks note potential for value creation through preserving current building designs, as well as exploring unutilized space on the fourth floors/garden levels and possible floorplan rearrangements.
Walk Score is 89 (very walkable) and Transit Score is 69 (good transit), with Bike Score of 57. The property is described as being near Beacon St. and positioned along a transit-oriented throughfare with MBTA access to major employment and education destinations.
The unit mix includes eighteen (18) 4–5 bedroom dwellings across the first, second, and third levels, along with three (3) 1–2 bedroom dwellings on the garden levels. The remarks note potential for value creation through preserving current building designs, as well as exploring unutilized space on the fourth floors/garden levels and possible floorplan rearrangements.
Walk Score is 89 (very walkable) and Transit Score is 69 (good transit), with Bike Score of 57. The property is described as being near Beacon St. and positioned along a transit-oriented throughfare with MBTA access to major employment and education destinations.
Key Highlights
- Portfolio of three contiguous 7‑unit apartment buildings at 10–12, 16–18, and 22–24 University Rd. in Brookline.
- Total of 21 residential units, including eighteen (18) 4–5 bedroom units and three (3) 1–2 bedroom units.
- Cumulative lot size of 23,479 SF across the contiguous parcels, including eleven (11) surface‑level parking spaces.
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
$1,152,572
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
7.32%
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%
$23,051,440
$23.1M
Cap Rate 7%
$16,465,314
$16.5M
Cap Rate 9%
$12,806,356
$12.8M
Market Conditions
NOI Build-Up for 57,928 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
$2.21M $38.16/SF
− Vacancy
−$114.9K −$1.98/SF
EGI
$2.10M $36.18/SF
− OpEx
−$943.0K −$16.28/SF
NOI
$1.15M $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /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%
$23,051,440
Cap Rate 7%
$16,465,314
Cap Rate 9%
$12,806,356
Alternative Uses
Best Use
Apartment 5plus
$16.47M
$14.41M – $19.21M
NOI $1,152,572 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$34.29M
$30.01M – $40.01M
NOI $2,400,521 @ 7.0% cap · market cap 15.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
21
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,692
Businesses Nearby
Explore this area
Business Placement
Demographics for 02445, MA
22,499
Population
10,016
Households
2.2
Avg Household Size
36
Median Age
86%
College-Educated
98%
High-School Grad
2.6 sq mi
ZIP Area
8,653
Density / Sq Mi
$145,878
Median Household Income
$76,514
Median Earnings
$2,779
Median Rent
$1,218,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Portfolio of three contiguous 7-unit apartment buildings with surface parking and 21 total residential units.
Where is this apartment building located?
The property is located at 10-24 University Rd. Brookline, MA.
What is the asking price?
The asking price for this property is $15,750,000.
What are key features of this property?
This property features: Portfolio of three contiguous 7‑unit apartment buildings at 10–12, 16–18, and 22–24 University Rd. in Brookline.; Total of 21 residential units, including eighteen (18) 4–5 bedroom units and three (3) 1–2 bedroom units.; Cumulative lot size of 23,479 SF across the contiguous parcels, including eleven (11) surface‑level parking spaces.
