Building Details

Year Built 1890

Buildings 1

Units 15

Listing Agency: United Multi Family Corporation Show Phone

Listed By: Richard Cawley · License #MA 134301

Source: Crexi

Added: Mar 23 Changed: Aug 8 Last Checked: Aug 21 at 6:20PM

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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 United Multi Family Corporation

Investment Insights

Based on property information with market context.

This multifamily property features 15 units. The building has a total size of 14688 square feet.

Key Highlights

• Multifamily property perfect for investors.
• Features 15 units.
• Built in 1890.

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

$345,051

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

6.27%

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%

$6,901,020 $6.9M

Cap Rate 7%

$4,929,300 $4.9M

Cap Rate 9%

$3,833,900 $3.8M

Market Conditions

NOI Build-Up for 14,688 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

$652.1K $44.40/SF

− Vacancy

−$24.8K −$1.69/SF

EGI

$627.4K $42.71/SF

− OpEx

−$282.3K −$19.22/SF

NOI

$345.1K $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%

$6,901,020

Cap Rate 7%

$4,929,300

Cap Rate 9%

$3,833,900

Alternative Uses

Best Use

Apartment 5plus

$4.93M

$4.31M – $5.75M (±1% cap)

NOI $345,051 @ 7.0% cap · market cap 6.27%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$11.00M

$9.62M – $12.83M (±1% cap)

NOI $769,886 @ 7.0% cap · market cap 14.00%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Apartment buildings

Suggested Use

Top Pick Law Firm Accounting Firm Spa & Massage Center HVAC Service Auto Parts Store Carpet & Flooring Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

5,726

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Apartment building - 15-unit multifamily property available for sale.

Where is this apartment building located?

The property is located at 1107 1109 1111 1113 1115 Harrison Ave Roxbury, MA.

What is the asking price?

The asking price for this property is $5,500,000.

What are key features of this property?

This property features: Multifamily property perfect for investors.; Features 15 units.; Built in 1890.