Renovated Triplex with Off-Street
New
For Sale
$1,475,000
116 Lucerne St, Boston, MA 02124
Residential Income, Boston, MA
Property Size4,053 SF
Lot Size0.10 Acres
Price / SF$363.93
Days on Market3
Property Features for 116 Lucerne St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
9
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 6, Bathroom 3, Bathroom 4, Bedroom 1, Bathroom 1, Bathroom 6, Bedroom 3, Bedroom 5, Bathroom 2, Bathroom 5, Bedroom 9, Bedroom 4, Bedroom 7, Bedroom 8, Bedroom 2
Parking
3
Elementary school
Pauline Agassiz Shaw School
High school
Boston Int. High School
Directions
Refer to GPS.
Subdivision
Dorchester
Standard status
Active
APN
1314846
Size
4,053 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
12319
Building Details
Year built
1929
Floors in Building
3
Number of units
3
Listing Agency:
Keller Williams Elite · Keller Williams Realty
(508) 695-4545
Added: Oct 27
Changed: Oct 28
Last Checked: Oct 29 at 10:06AM
MLS# 73595786
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This Boston triplex contains three units, with a total of 4,053 square feet on a 0.0975-acre lot. Each unit has been renovated, including work to kitchens, electrical and plumbing systems, windows, flooring, and the roof. The property has 9 bedrooms and 6 bathrooms, and a lead certificate is available.
Built in 1929, the building is zoned R3 and includes three off-street parking spaces. The address is 116 Lucerne St in Boston, Massachusetts.
Built in 1929, the building is zoned R3 and includes three off-street parking spaces. The address is 116 Lucerne St in Boston, Massachusetts.
Key Highlights
- Three renovated units in a 4,053‑square‑foot triplex
- 9 bedrooms and 6 bathrooms
- Three off‑street parking spaces
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.
How Realmo checks its estimates
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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 updated residential units offer a renovated configuration with off-street parking.
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 renovated units in a 4,053‑square‑foot triplex; 9 bedrooms and 6 bathrooms; Three off‑street parking spaces
