Fully Renovated 3-Family
For Sale
$1,199,990
149 Mountain Ave, Revere, MA 02151
Turn-key, fully renovated three-family with updated kitchens and baths, coin-op laundry, and a shared yard.
Property Size3,453 SF
Price / SF$347.52
Days on Market98
Property Features for 149 Mountain Ave
General Information
Standard status
Active
Size
3,453 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
RB
Net Operating Income
$69,600
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,792
Building Details
Building Size
3,453 SF
Year Built
1930
Stories
3
Listing Agency:
eXp Realty LLC - Corporate Office
(404) 689-4408
Listed By:
The Denman Group · License #RB14029982
Source:
Dohertyproperties
Added: May 21
Changed: Aug 24
Last Checked: Aug 26 at 5:23AM
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 eXp Realty LLC - Corporate Office
Investment Insights
Based on property information with market context.
149 Mountain Ave is a fully renovated three-family residence offering bright, sun-filled units with refinished hardwood floors and recessed lighting throughout. Each unit includes updated kitchens and baths, with open, well-appointed floor layouts and generous room sizes. Unit 2 features a bonus enclosed rear porch for additional flexible living space. The building also includes new forced hot air heating systems, updated electrical and plumbing, coin-op laundry in the basement, and extra basement storage. A shared yard and rear deck provide outdoor space for tenants.
The property is located minutes from Revere Beach with easy access to the MBTA Blue Line, Routes 1 and 16, and downtown Boston.
Unit 2 will be delivered vacant, while Units 1 and 3 are leased through 8/31/26.
The property is located minutes from Revere Beach with easy access to the MBTA Blue Line, Routes 1 and 16, and downtown Boston.
Unit 2 will be delivered vacant, while Units 1 and 3 are leased through 8/31/26.
Key Highlights
- Fully renovated 3‑family with updated kitchens and baths in every unit
- Refinished hardwood floors and recessed lighting throughout
- New forced hot air systems plus updated electrical and plumbing
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
$65,784
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
5.48%
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%
$1,315,680
$1.3M
Cap Rate 7%
$939,771
$939.8K
Cap Rate 9%
$730,933
$730.9K
Market Conditions
NOI Build-Up for 3,453 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
$99.4K $28.80/SF
− Vacancy
−$5.5K −$1.58/SF
EGI
$94.0K $27.22/SF
− OpEx
−$28.2K −$8.16/SF
NOI
$65.8K $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 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%
$1,315,680
Cap Rate 7%
$939,771
Cap Rate 9%
$730,933
Alternative Uses
Best Use
Multifamily LT 5
$939.8K
$822.3K – $1.10M
NOI $65,784 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$856.9K
$749.8K – $999.7K
NOI $59,983 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $143,091 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,589
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
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 - Turn-key, fully renovated three-family with updated kitchens and baths, coin-op laundry, and a shared yard.
Where is this triplex located?
The property is located at 149 Mountain Ave Revere, MA.
What is the asking price?
The asking price for this property is $1,199,990.
What are key features of this property?
This property features: Fully renovated 3‑family with updated kitchens and baths in every unit; Refinished hardwood floors and recessed lighting throughout; New forced hot air systems plus updated electrical and plumbing
