Remodeled Multifamily in Prime
For Sale
$1,350,000
64 Bremen St, Boston, MA 02128
Remodeled three-family home in East Boston with income potential.
Property Size2,907 SF
Days on Market125
Property Features for 64 Bremen St
General Information
Standard status
Active
Size
2,907 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$13,088
Building Details
Building Size
2,907 SF
Year Built
1910
Stories
4
Units
3
Listing Agency:
DiPietro Group Real Estate
(978) 618-3299
Listed By:
Kim Oliveira
(978) 618-3299
Source:
Elliman
Added: Apr 11
Changed: Aug 8
Last Checked: Aug 8 at 5:52AM
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 DiPietro Group Real Estate
Investment Insights
Based on property information with market context.
Located in East Boston, 64 Bremen Street is a remodeled three-family home. The property offers rental income and owner-occupant potential. The well-maintained property features newer appliances, updated finishes, and a spacious layout across all three units. The top-floor unit has been freshly painted and is move-in ready. The first and second units are already rented, providing income. The property has accessibility to Maverick Square T, Water Shuttle, Logan Airport, and highways, plus dining and amenities. The property has a walk score of 92, a bike score of 78, and a transit score of 80.
Key Highlights
- Prime East Boston location with unbeatable access to Maverick Square T, Water Shuttle, Logan Airport, and highways.
- Turnkey income potential with two units already rented.
- Beautifully remodeled three‑family home with updated finishes and newer appliances.
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
$73,458
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
5.44%
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%
$1,469,160
$1.5M
Cap Rate 7%
$1,049,400
$1.0M
Cap Rate 9%
$816,200
$816.2K
Market Conditions
NOI Build-Up for 2,907 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
$109.9K $37.80/SF
− Vacancy
−$4.9K −$1.70/SF
EGI
$104.9K $36.10/SF
− OpEx
−$31.5K −$10.83/SF
NOI
$73.5K $25.27/SF
Area
Boston, MA
Vacancy
4.50%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,469,160
Cap Rate 7%
$1,049,400
Cap Rate 9%
$816,200
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$918.2K – $1.22M
NOI $73,458 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$975.6K
$853.6K – $1.14M
NOI $68,291 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$2.18M
$1.90M – $2.54M
NOI $152,373 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,956
Businesses Nearby
Explore this area
Business Placement
Demographics for 02128, MA
43,066
Population
19,124
Households
2.3
Avg Household Size
33
Median Age
38%
College-Educated
77%
High-School Grad
5.0 sq mi
ZIP Area
8,613
Density / Sq Mi
$92,079
Median Household Income
$48,549
Median Earnings
$2,009
Median Rent
$680,000
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?
Triplex - Remodeled three-family home in East Boston with income potential.
Where is this triplex located?
The property is located at 64 Bremen St Boston, MA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Prime East Boston location with unbeatable access to Maverick Square T, Water Shuttle, Logan Airport, and highways.; Turnkey income potential with two units already rented.; Beautifully remodeled three‑family home with updated finishes and newer appliances.
