Renovated Seven-Unit Brick
For Sale
$4,600,000
12 North Bennet Street, Boston, MA 02113
Gut-renovated seven-unit brick apartment building with six one-bed and one two-bed unit, plus common laundry facilities.
Property Size6,690 SF
Price / SF$687.59
Days on Market143
Property Features for 12 North Bennet Street
General Information
Standard status
Active
Size
6,690 SF
Property subtype
Multi-Family
Occupancy
100%
Net Operating Income
$201,924
Additional Details
Business Included
Yes
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$24,131
Building Details
Building Size
6,690 SF
Year Built
1905
Stories
4
Listing Agency:
Gibson Sotheby's International Realty
(617) 227-1000
Listed By:
The Gilardi Group
(617) 529-4461
Source:
Churchillprop
Added: Jun 1
Changed: Oct 6
Last Checked: Oct 20 at 6:44PM
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 Gibson Sotheby's International Realty
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Investment Insights
Based on property information with market context.
Completely gut-renovated, this seven-unit brick apartment building offers six updated one-bedroom apartments and one spacious two-bedroom unit. The property is presented as fully occupied, with seven leases in place, and includes common laundry facilities for residents. The building has been meticulously maintained following the renovation.
Located in Boston’s North End at 12 North Bennet Street, the property places residents near Boston’s restaurants, cafes, waterfront, and historic attractions. It is described as minutes from Faneuil Hall, the Financial District, and downtown Boston.
The asset’s current layout supports an income-producing residential configuration with a mix of one- and two-bedroom units, all within a renovated, multi-unit brick structure.
Located in Boston’s North End at 12 North Bennet Street, the property places residents near Boston’s restaurants, cafes, waterfront, and historic attractions. It is described as minutes from Faneuil Hall, the Financial District, and downtown Boston.
The asset’s current layout supports an income-producing residential configuration with a mix of one- and two-bedroom units, all within a renovated, multi-unit brick structure.
Key Highlights
- 1905‑built brick seven‑unit apartment building in Boston’s North End
- Gut renovation completed with six updated 1‑bedroom units and one updated 2‑bedroom unit
- Fully occupied with seven leases in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$157,162
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,143,240
$3.1M
Cap Rate 7%
$2,245,171
$2.2M
Cap Rate 9%
$1,746,244
$1.7M
Market Conditions
NOI Build-Up for 6,690 SF
Gross rent
$297.0K $44.40/SF
− Vacancy
−$11.3K −$1.69/SF
EGI
$285.7K $42.71/SF
− OpEx
−$128.6K −$19.22/SF
NOI
$157.2K $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%
$3,143,240
Cap Rate 7%
$2,245,171
Cap Rate 9%
$1,746,244
Alternative Uses
Best Use
Apartment 5plus
$2.25M
$1.96M – $2.62M
NOI $157,162 @ 7.0% cap · market cap 3.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.01M
$4.38M – $5.84M
NOI $350,663 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
7
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
12,999
Businesses Nearby
Explore this area
Business Placement
Demographics for 02113, MA
7,126
Population
4,664
Households
1.5
Avg Household Size
29
Median Age
80%
College-Educated
98%
High-School Grad
0.1 sq mi
ZIP Area
71,260
Density / Sq Mi
$110,321
Median Household Income
$72,264
Median Earnings
$2,498
Median Rent
$693,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Gut-renovated seven-unit brick apartment building with six one-bed and one two-bed unit, plus common laundry facilities.
Where is this apartment building located?
The property is located at 12 North Bennet Street Boston, MA.
What is the asking price?
The asking price for this property is $4,600,000.
What are key features of this property?
This property features: 1905‑built brick seven‑unit apartment building in Boston’s North End; Gut renovation completed with six updated 1‑bedroom units and one updated 2‑bedroom unit; Fully occupied with seven leases in place
