Multifamily Property for
For Sale
$649,000
114 Westville Street, Boston, MA 02124
The property is offered in its existing condition with R2 zoning and redevelopment potential.
Property Size1,948 SF
Price / SF$333.16
Days on Market14
Property Features for 114 Westville Street
General Information
Standard status
Active
Size
1,948 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
R2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,940
Building Details
Building Size
1,948 SF
Year Built
1900
Stories
3
Listing Agency:
Coldwell Banker Realty - Needham
Listed By:
Vicky Seriy
(617) 816-5894
Source:
Laerrealty
Added: Sep 22
Changed: Oct 3
Last Checked: Oct 5 at 3:49PM
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 Coldwell Banker Realty - Needham
Investment Insights
Based on property information with market context.
This multifamily property at 114 Westville Street is offered in AS-IS, WHERE-IS condition and was built in 1900. The property requires buyer due diligence regarding its condition and building systems, with no representations or warranties provided on those matters. Buyer is responsible for smoke detector installation and smoke inspection requirements.
The property is located in Boston’s Dorchester area, just blocks from the Fields Corner MBTA Red Line Station. Nearby amenities include local dining, shopping, parks, and public transportation, with access to Boston and Cambridge by rail. The property is zoned R2 and is presented as a renovation and redevelopment opportunity.
The property is located in Boston’s Dorchester area, just blocks from the Fields Corner MBTA Red Line Station. Nearby amenities include local dining, shopping, parks, and public transportation, with access to Boston and Cambridge by rail. The property is zoned R2 and is presented as a renovation and redevelopment opportunity.
Key Highlights
- Multifamily property at 114 Westville Street, Boston, MA 02124
- R2 zoning
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,762
Cap Rate
7.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$915,240
$915.2K
Cap Rate 7%
$653,743
$653.7K
Cap Rate 9%
$508,467
$508.5K
Market Conditions
NOI Build-Up for 1,948 SF
Gross rent
$86.5K $44.40/SF
− Vacancy
−$3.3K −$1.69/SF
EGI
$83.2K $42.71/SF
− OpEx
−$37.4K −$19.22/SF
NOI
$45.8K $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 Rate 5%
$915,240
Cap Rate 7%
$653,743
Cap Rate 9%
$508,467
Alternative Uses
Best Use
Apartment 5plus
$653.7K
$572.0K – $762.7K
NOI $45,762 @ 7.0% cap · market cap 7.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,106 @ 7.0% cap · market cap 15.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,926
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - The property is offered in its existing condition with R2 zoning and redevelopment potential.
Where is this multifamily property located?
The property is located at 114 Westville Street Boston, MA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Multifamily property at 114 Westville Street, Boston, MA 02124; R2 zoning; Built in 1900
