Six-Unit Brick Apartment
For Sale
$1,500,000
Pending
99 Newbury Ave, Quincy, MA 02171
Six-unit brick building features separate utilities, a recently installed sprinkler system, and all units under active leases.
Property Size6,336 SF
Days on Market40
Property Features for 99 Newbury Ave
General Information
Standard status
Pending
Size
6,336 SF
Property subtype
Multifamily
Occupancy
100%
Additional Details
Business Included
Yes
Sprinkler System
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$13,072
Building Details
Building Size
6,336 SF
Year Built
1900
Tenancy
Multi
Listing Agency:
Central Real Estate
(617) 479-0123
Listed By:
Helen Mach · License #455013352
Source:
Classifiedrealtygroup
Added: Jul 17
Changed: Aug 24
Last Checked: Aug 1 at 3:15AM
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 Central Real Estate
Investment Insights
Based on property information with market context.
This six-unit brick apartment building offers a straightforward, turn-key setup for residential income. The roof is approximately 8 years old, and each unit has separate utilities. A sprinkler system has been recently installed to meet city requirements. All six units are currently occupied with active leases.
The property is located in the North Quincy area near North Quincy High School, Atlantic Middle School, and Francis W. Parker Elementary School. It is also within walking distance of the North Quincy T station, along with local banks and restaurants.
For buyers seeking an occupied, income-producing residential asset, this building’s combination of separated utilities, completed sprinkler compliance, and current tenancy supports immediate operational continuity. Appointments are required to view the property, and a commercial loan pre-approval letter is requested when scheduling a tour.
The property is located in the North Quincy area near North Quincy High School, Atlantic Middle School, and Francis W. Parker Elementary School. It is also within walking distance of the North Quincy T station, along with local banks and restaurants.
For buyers seeking an occupied, income-producing residential asset, this building’s combination of separated utilities, completed sprinkler compliance, and current tenancy supports immediate operational continuity. Appointments are required to view the property, and a commercial loan pre-approval letter is requested when scheduling a tour.
Key Highlights
- Six‑unit residential brick building built in 1900
- All units are currently occupied with active leases
- Separate utilities for all units
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
$98,271
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
6.55%
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%
$1,965,420
$2.0M
Cap Rate 7%
$1,403,871
$1.4M
Cap Rate 9%
$1,091,900
$1.1M
Market Conditions
NOI Build-Up for 6,336 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
$190.1K $30.00/SF
− Vacancy
−$11.4K −$1.80/SF
EGI
$178.7K $28.20/SF
− OpEx
−$80.4K −$12.69/SF
NOI
$98.3K $15.51/SF
Area
Quincy, MA
Vacancy
6.00%
Lease Rate
$30.00 /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%
$1,965,420
Cap Rate 7%
$1,403,871
Cap Rate 9%
$1,091,900
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.23M – $1.64M
NOI $98,271 @ 7.0% cap · market cap 6.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.75M
$3.28M – $4.37M
NOI $262,158 @ 7.0% cap · market cap 17.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
740
Businesses Nearby
Explore this area
Business Placement
Demographics for 02171, MA
19,539
Population
9,513
Households
2.1
Avg Household Size
41
Median Age
52%
College-Educated
88%
High-School Grad
2.5 sq mi
ZIP Area
7,816
Density / Sq Mi
$104,992
Median Household Income
$58,835
Median Earnings
$2,281
Median Rent
$630,200
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 - Six-unit brick building features separate utilities, a recently installed sprinkler system, and all units under active leases.
Where is this apartment building located?
The property is located at 99 Newbury Ave Quincy, MA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Six‑unit residential brick building built in 1900; All units are currently occupied with active leases; Separate utilities for all units
