Renovated 3-Unit
New
For Sale
$1,475,000
116 Lucerne St, Boston, MA 02124
Three renovated residences combine nine bedrooms, six bathrooms, and three off-street parking spaces.
Property Size4,053 SF
Price / SF$363.93
Days on Market4
Property Features for 116 Lucerne St
General Information
Standard status
Active
Size
4,053 SF
Total Parking Spaces
3
Property subtype
Residential Income
Zoning
R3
Net Operating Income
$103,200
Site & Location
Neighborhood
Mattapan
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$12,319
Amenities
Park
Window Unit(s)
Forced Air
Partial
Trash Compactor, Range, Dishwasher, Microwave, Refrigerator, Gas Water Heater
Paved, Off Street
Rain Gutters, Balcony
Building Details
Building Size
4,053 SF
Year Built
1925
Stories
3
Listed By:
Kaidy Forbes
(857) 287-7265
Source:
Evrealestate
Added: Oct 28
Changed: Oct 30
Last Checked: Oct 30 at 1:02PM
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 Kaidy Forbes
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Investment Insights
Based on property information with market context.
This triplex contains 3 units across 18 rooms, with 9 bedrooms and 6 bathrooms. All three units have been renovated, including kitchen, electrical, plumbing, window, flooring, and roof updates. Granite countertops are among the kitchen improvements, and a lead certificate is available. The 4,053-square-foot property was built in 1925.
Located at 116 Lucerne St in Boston, the property is near public transportation, shopping, dining, and local amenities. Three off-street parking spaces serve the property.
Located at 116 Lucerne St in Boston, the property is near public transportation, shopping, dining, and local amenities. Three off-street parking spaces serve the property.
Key Highlights
- Three units with 9 bedrooms, 6 bathrooms, and 18 rooms
- All three units renovated, with updated electrical, plumbing, kitchens, windows, flooring, and roof
- Granite countertops and a lead certificate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,416
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,048,320
$2.0M
Cap Rate 7%
$1,463,086
$1.5M
Cap Rate 9%
$1,137,956
$1.1M
Market Conditions
NOI Build-Up for 4,053 SF
Gross rent
$153.2K $37.80/SF
− Vacancy
−$6.9K −$1.70/SF
EGI
$146.3K $36.10/SF
− OpEx
−$43.9K −$10.83/SF
NOI
$102.4K $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%
$2,048,320
Cap Rate 7%
$1,463,086
Cap Rate 9%
$1,137,956
Alternative Uses
Best Use
Multifamily LT 5
$1.46M
$1.28M – $1.71M
NOI $102,416 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,213 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$3.03M
$2.66M – $3.54M
NOI $212,442 @ 7.0% cap · market cap 14.40%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
831
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 - Three renovated residences combine nine bedrooms, six bathrooms, and three off-street parking spaces.
Where is this triplex located?
The property is located at 116 Lucerne St Boston, MA.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Three units with 9 bedrooms, 6 bathrooms, and 18 rooms; All three units renovated, with updated electrical, plumbing, kitchens, windows, flooring, and roof; Granite countertops and a lead certificate
