Renovated Three-Unit
New
For Sale
$1,375,000
123 Crest Ave, Revere, MA 02151
Three matching apartments each offer private outdoor space and separate utilities.
Property Size4,023 SF
Price / SF$343.75
Days on Market2
Property Features for 123 Crest Ave
General Information
Standard status
Active
Size
4,023 SF
Total Parking Spaces
5
Property subtype
Multifamily
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,412
Amenities
updated kitchens
stainless steel appliances
tiled baths
hardwood flooring
formal living rooms
formal dining rooms
private deck
Building Details
Building Size
4,023 SF
Year Built
1900
Stories
3
Construction
triple decker
Listing Agency:
Broad Sound Real Estate, LLC
Listed By:
Nicholas Daher
(978) 423-7782
Source:
Classifiedrealtygroup
Added: Oct 16
Last Checked: Oct 16 at 2:07PM
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 Broad Sound Real Estate, LLC
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Investment Insights
Based on property information with market context.
This 4,000-square-foot triplex was built in 1900 and has been fully renovated. Its three oversized apartments share an identical floor plan, with more than three bedrooms in each, formal living and dining rooms, updated kitchens, stainless steel appliances, tiled bathrooms, and hardwood floors. Each residence has a private deck, and separate heat, hot water, and electric service. A detached two-stall garage and additional off-street parking are also included.
The property is 0.5 miles from the Blue Line T station and Historic Revere Beach. Each apartment is occupied by tenants at will.
The property is 0.5 miles from the Blue Line T station and Historic Revere Beach. Each apartment is occupied by tenants at will.
Key Highlights
- Three apartments with matching floor plans and more than three bedrooms each
- 4,000 square feet; built in 1900 and fully renovated
- Updated kitchens, stainless steel appliances, tiled baths, and hardwood floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,205
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,524,100
$1.5M
Cap Rate 7%
$1,088,643
$1.1M
Cap Rate 9%
$846,722
$846.7K
Market Conditions
NOI Build-Up for 4,000 SF
Gross rent
$115.2K $28.80/SF
− Vacancy
−$6.3K −$1.58/SF
EGI
$108.9K $27.22/SF
− OpEx
−$32.7K −$8.16/SF
NOI
$76.2K $19.05/SF
Area
Suffolk County, MA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,524,100
Cap Rate 7%
$1,088,643
Cap Rate 9%
$846,722
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$952.6K – $1.27M
NOI $76,205 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$992.6K
$868.6K – $1.16M
NOI $69,485 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$2.37M
$2.07M – $2.76M
NOI $165,759 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
250
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?
Triplex - Three matching apartments each offer private outdoor space and separate utilities.
Where is this triplex located?
The property is located at 123 Crest Ave Revere, MA.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Three apartments with matching floor plans and more than three bedrooms each; 4,000 square feet; built in 1900 and fully renovated; Updated kitchens, stainless steel appliances, tiled baths, and hardwood floors
