Renovated Multifamily in Savin
For Sale
$1,900,000
24 Buttonwood St, Boston, MA 02125
Three-unit multifamily property in Dorchester's Savin Hill neighborhood.
Property Size3,396 SF
Lot Size0.05 Acres
Days on Market262
Property Features for 24 Buttonwood St
General Information
Standard status
Active
Size
3,396 SF
Lot size
0.05 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$14,087
Building Details
Building Size
3,396 SF
Year Built
1920
Stories
3
Units
3
Listing Agency:
Compass
(203) 893-8316
Listed By:
Eric W. Johnson
(203) 893-8316
Source:
Elliman
Added: Dec 3, 2025
Changed: Aug 8
Last Checked: Aug 21 at 10:02AM
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 Compass
Investment Insights
Based on property information with market context.
Located in the Savin Hill neighborhood of Dorchester, 24 Buttonwood Street is a renovated three-unit multifamily property. The building was fully renovated in 2021 and offers modern finishes. Each unit features 3 bedrooms and 2 full bathrooms. The units are designed with hardwood floors, shaker-style cabinetry, stainless steel appliances, and central air conditioning. Each apartment has a private back deck, plus separate laundry in the basement. The property is located 0.2 miles from the JFK/UMass Red Line T stop, providing access to downtown Boston and Cambridge. All three units are leased through August 2026, providing income for investors or owner-occupants.
Key Highlights
- Fully renovated in 2021 with modern finishes and central air conditioning throughout all three units.
- Prime Savin Hill location, just 0.2 miles from the JFK/UMass Red Line T stop for easy access to downtown Boston and Cambridge.
- Turn‑key property with strong rental income and all three units leased through August 2026.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$79,779
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,595,580
$1.6M
Cap Rate 7%
$1,139,700
$1.1M
Cap Rate 9%
$886,433
$886.4K
Market Conditions
NOI Build-Up for 3,396 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$150.8K $44.40/SF
− Vacancy
−$5.7K −$1.69/SF
EGI
$145.1K $42.71/SF
− OpEx
−$65.3K −$19.22/SF
NOI
$79.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,595,580
Cap Rate 7%
$1,139,700
Cap Rate 9%
$886,433
Alternative Uses
Best Use
Apartment 5plus
$1.14M
$997.2K – $1.33M
NOI $79,779 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.54M
$2.23M – $2.97M
NOI $178,005 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,418
Businesses Nearby
Explore this area
Business Placement
Demographics for 02125, MA
34,926
Population
14,999
Households
2.3
Avg Household Size
32
Median Age
42%
College-Educated
87%
High-School Grad
2.2 sq mi
ZIP Area
15,875
Density / Sq Mi
$71,810
Median Household Income
$52,106
Median Earnings
$1,897
Median Rent
$645,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three-unit multifamily property in Dorchester's Savin Hill neighborhood.
Where is this apartment building located?
The property is located at 24 Buttonwood St Boston, MA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Fully renovated in 2021 with modern finishes and central air conditioning throughout all three units.; Prime Savin Hill location, just 0.2 miles from the JFK/UMass Red Line T stop for easy access to downtown Boston and Cambridge.; Turn‑key property with strong rental income and all three units leased through August 2026.
