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    238-240 Norfolk St Boston, MA 02124

    For Sale
    $2,700,000

    New five-unit multifamily property in Boston's Dorchester neighborhood.

    Lot size:
    0.30 Acres

    Property Features for 238-240 Norfolk St

    General Information

    Lot size
    0.30 Acres

    Building Details

    Year built
    1900

    Source: Stony Brook & Lennox Realty Advisors Agent Markese Daise

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    New Multifamily Building in Dorchester

    Located in Boston's Dorchester neighborhood, this new five-unit multifamily building offers over 8,000 square feet of living space. The property features four 3-bedroom, 2-bathroom units and one 5-bedroom, 3-bathroom unit. High-end kitchens and spa-like bathrooms are among the interior features. The building has been upgraded with new plumbing, electrical, central air, roof, and windows. The property is positioned as a turnkey investment opportunity with potential for high annual income. The property offers convenient access to multiple transit lines and Downtown Boston. The building can be financed as a separate 2-family and 3-family property. Potential uses include holding the asset, short-term rentals, or future condo conversion.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Boston
    County
    Suffolk
    State
    Massachusetts
    Longitude
    -71.080425
    Latitude
    42.28464

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    FAQs

    What type of property is this?
    Apartment building - New five-unit multifamily property in Boston's Dorchester neighborhood.
    Where is this apartment building located?
    The property is located at 238-240 Norfolk St Boston, MA.
    What is the asking price?
    The asking price for this property is $2,700,000.
    What are key features of this property?
    This property features: - Brand new, fully turnkey 5-unit multi-family building in Dorchester.; - Projected annual income over $250,000 with a cap rate nearing 8%.; - Five luxury units: featuring (4) 3 Bed/2 Bath & (1) 5 Bed/3 Bath, totaling over 8,000 sqft.
    (617) 905-4014
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    Boston, MA 02124
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    238-240 Norfolk St Boston, MA 02124
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