Three-Unit Residential Income
For Sale
$1,125,000
109 Capen St, Boston, MA 02124
Fully occupied three-family property with separate utilities, multiple meters, and three gas forced-air heating systems.
Property Size3,369 SF
Days on Market99
Property Features for 109 Capen St
General Information
Standard status
Active
Size
3,369 SF
Total Parking Spaces
1
Property subtype
Multifamily
Occupancy
100%
Site & Location
Neighborhood
Mattapan
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,703
Amenities
hardwood floors
shared basement laundry
front porch
rear porch
common backyard
on-street parking
Building Details
Building Size
3,369 SF
Year Built
1905
Tenancy
Multi
Listing Agency:
Keller Williams Realty Boston Northwest
Listed By:
Ciampa Group
(617) 830-1008
Source:
Classifiedrealtygroup
Added: Jul 24
Changed: Oct 25
Last Checked: Oct 28 at 5:19AM
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 Keller Williams Realty Boston Northwest
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Investment Insights
Based on property information with market context.
This three-family residential income property is fully occupied and configured with three bedrooms and one full bathroom in each unit. The units include hardwood floors and share a basement laundry area, along with front and rear porches and a common backyard. Recent improvements include fresh painting in 2025.
Separate utilities support independent service for the building, including three gas meters and four electric meters (including a common panel), with three gas forced-air heating systems. On-street parking is available, and the property is described as convenient to shopping, restaurants, public transportation, and major commuter routes.
Showings require 48-hour notice for all requests. Unit 3 is under lease through 9/30/2026.
Separate utilities support independent service for the building, including three gas meters and four electric meters (including a common panel), with three gas forced-air heating systems. On-street parking is available, and the property is described as convenient to shopping, restaurants, public transportation, and major commuter routes.
Showings require 48-hour notice for all requests. Unit 3 is under lease through 9/30/2026.
Key Highlights
- Fully occupied 3‑family property with $9,500/month rental income and all units featuring 3 bedrooms and 1 full bathroom
- Unit 3 is under lease through 9/30/2026; units occupied through housing voucher programs
- Separate utilities with 3 gas meters and 4 electric meters (including a common panel), plus 3 gas forced‑air heating systems
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,132
Cap Rate
7.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,702,640
$1.7M
Cap Rate 7%
$1,216,171
$1.2M
Cap Rate 9%
$945,911
$945.9K
Market Conditions
NOI Build-Up for 3,369 SF
Gross rent
$127.3K $37.80/SF
− Vacancy
−$5.7K −$1.70/SF
EGI
$121.6K $36.10/SF
− OpEx
−$36.5K −$10.83/SF
NOI
$85.1K $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%
$1,702,640
Cap Rate 7%
$1,216,171
Cap Rate 9%
$945,911
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.06M – $1.42M
NOI $85,132 @ 7.0% cap · market cap 7.57%
Second Best
Apartment 5plus
$1.13M
$989.3K – $1.32M
NOI $79,145 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$2.52M
$2.21M – $2.94M
NOI $176,590 @ 7.0% cap · market cap 15.70%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
990
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied three-family property with separate utilities, multiple meters, and three gas forced-air heating systems.
Where is this triplex located?
The property is located at 109 Capen St Boston, MA.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Fully occupied 3‑family property with $9,500/month rental income and all units featuring 3 bedrooms and 1 full bathroom; Unit 3 is under lease through 9/30/2026; units occupied through housing voucher programs; Separate utilities with 3 gas meters and 4 electric meters (including a common panel), plus 3 gas forced‑air heating systems
