3-Unit Triplex with Updated
106-108 Millet St, Boston, MA 02124
For Sale
$1,450,000
The vacant third-floor unit offers flexibility for owner occupancy.
Property Size3,132 SF
Price / SF$462.96
Days on Market17
Property Features for 106-108 Millet St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Fenced Yard
Land
Land Use
Entitled
Additional Details
Tenant in Place
Amenities
fenced yard
Building Details
Year Built
Listing Agency:
Lamacchia Realty, Inc.
(508) 230-8200
Listed By:
Germain Dugre
(508) 951-1789
Source:
Lockandkeyre
Added: Oct 22
Changed: Nov 7
Last Checked: Nov 7 at 5:05AM
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 Lamacchia Realty, Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,132-square-foot triplex has three residential units, with the third-floor apartment vacant and available for potential owner occupancy. The kitchens and bathrooms have been remodeled, and the kitchens include refrigerators, ranges and microwaves. Each kitchen also has a separate adjoining room that can serve as pantry or office space. Recessed LED lighting, newer doors and hardware, vinyl siding and modern windows are among the property’s features.
Building systems include three Goodman gas furnaces, three gas hot water tanks, individual circuit breaker panels for each unit and a separate owner panel. A coin-operated washer and dryer are included. Lead certificates are in place for the first and second floors. The property also has a fenced yard and an additional lot described as buildable, subject to ZBA approval.
Building systems include three Goodman gas furnaces, three gas hot water tanks, individual circuit breaker panels for each unit and a separate owner panel. A coin-operated washer and dryer are included. Lead certificates are in place for the first and second floors. The property also has a fenced yard and an additional lot described as buildable, subject to ZBA approval.
Key Highlights
- 3,132‑square‑foot triplex with three residential units
- Vacant third‑floor unit offers potential owner occupancy
- Remodeled kitchens and bathrooms; kitchen appliances included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$79,143
Cap Rate
5.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,582,860
$1.6M
Cap Rate 7%
$1,130,614
$1.1M
Cap Rate 9%
$879,367
$879.4K
Market Conditions
NOI Build-Up for 3,132 SF
Gross rent
$118.4K $37.80/SF
− Vacancy
−$5.3K −$1.70/SF
EGI
$113.1K $36.10/SF
− OpEx
−$33.9K −$10.83/SF
NOI
$79.1K $25.27/SF
Area
Boston, MA
Vacancy
4.50%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,582,860
Cap Rate 7%
$1,130,614
Cap Rate 9%
$879,367
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$989.3K – $1.32M
NOI $79,143 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$1.05M
$919.7K – $1.23M
NOI $73,577 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$2.35M
$2.05M – $2.74M
NOI $164,167 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
1,410
Businesses Nearby
Explore this area
Business Placement
Demographics for 02124, MA
50,972
Population
21,264
Households
2.4
Avg Household Size
36
Median Age
31%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
16,991
Density / Sq Mi
$79,168
Median Household Income
$43,483
Median Earnings
$1,783
Median Rent
$607,200
Median Home Value
Market
Average Price Trend$/SF for Triplexes in Boston, MA
Properties on Market for Triplexes in Boston
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - The vacant third-floor unit offers flexibility for owner occupancy.
Where is this triplex located?
The property is located at 106-108 Millet St Boston, MA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 3,132‑square‑foot triplex with three residential units; Vacant third‑floor unit offers potential owner occupancy; Remodeled kitchens and bathrooms; kitchen appliances included
