6-Unit Apartment
For Sale
$1,925,000
120 Dolphin, Revere, MA 02151
Fully occupied multifamily property with transit access, dual driveways, and off-street parking.
Property Size4,180 SF
Price / SF$460.53
Days on Market142
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Property Features for 120 Dolphin
General Information
Standard status
Active
Size
4,180 SF
Total Parking Spaces
7
Property subtype
Multi-Family
Zoning
RB
Net Operating Income
$114,651
Taxes and HOA fees
Annual Taxes
$11,431
Building Details
Building Size
4,180 SF
Year Built
1970
Stories
5
Listing Agency:
Three Hills Real Estate Service, LLC
(833) 434-4557
Listed By:
Justin Brown
(617) 461-6511
Source:
Churchillprop
Added: May 27
Changed: Oct 15
Last Checked: Oct 14 at 9:28PM
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 Three Hills Real Estate Service, LLC
Investment Insights
Based on property information with market context.
This 6-unit apartment property is fully occupied and sits on a level lot in Revere. The building was constructed in 1970 and includes two driveway entrances with ample off-street parking. RB zoning is in place, and the top level offers potential for expansion by 2 additional units.
The property is located at 120 Dolphin in Revere, near Revere Beach. Public transit is accessible, including train service to Boston, while major highways, shopping, and dining are also nearby. A playground is located 1 block away on the same street.
The combination of an occupied six-unit configuration, established site improvements, and possible top-level expansion provides a clear overview of the property’s existing layout and future physical capacity.
The property is located at 120 Dolphin in Revere, near Revere Beach. Public transit is accessible, including train service to Boston, while major highways, shopping, and dining are also nearby. A playground is located 1 block away on the same street.
The combination of an occupied six-unit configuration, established site improvements, and possible top-level expansion provides a clear overview of the property’s existing layout and future physical capacity.
Key Highlights
- Fully occupied 6‑unit apartment property
- Potential expansion for 2 additional units on the top level
- Level lot with two driveway entrances and ample off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,612
Cap Rate
3.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,452,240
$1.5M
Cap Rate 7%
$1,037,314
$1.0M
Cap Rate 9%
$806,800
$806.8K
Market Conditions
NOI Build-Up for 4,180 SF
Gross rent
$140.4K $33.60/SF
− Vacancy
−$8.4K −$2.02/SF
EGI
$132.0K $31.58/SF
− OpEx
−$59.4K −$14.21/SF
NOI
$72.6K $17.37/SF
Area
Suffolk County, MA
Vacancy
6.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,452,240
Cap Rate 7%
$1,037,314
Cap Rate 9%
$806,800
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$907.7K – $1.21M
NOI $72,612 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.47M
$2.17M – $2.89M
NOI $173,218 @ 7.0% cap · market cap 9.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
301
Businesses Nearby
Explore this area
Business Placement
Demographics for 02151, MA
62,252
Population
23,461
Households
2.7
Avg Household Size
38
Median Age
25%
College-Educated
83%
High-School Grad
5.7 sq mi
ZIP Area
10,921
Density / Sq Mi
$80,948
Median Household Income
$43,374
Median Earnings
$1,964
Median Rent
$566,200
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
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with transit access, dual driveways, and off-street parking.
Where is this apartment building located?
The property is located at 120 Dolphin Revere, MA.
What is the asking price?
The asking price for this property is $1,925,000.
What are key features of this property?
This property features: Fully occupied 6‑unit apartment property; Potential expansion for 2 additional units on the top level; Level lot with two driveway entrances and ample off‑street parking
