Well-Maintained Six-Family
For Sale
$1,900,000
Pending
140-142 Blue Hill Ave, Boston, MA 02119
Six fully occupied units offer updated systems and off-street parking with a spacious backyard.
Property Size7,006 SF
Days on Market49
Property Features for 140-142 Blue Hill Ave
General Information
Standard status
Pending
Size
7,006 SF
Total Parking Spaces
6
Property subtype
Multifamily
Occupancy
100%
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$19,233
Amenities
off-street parking
grassy backyard
Building Details
Building Size
7,006 SF
Year Built
1905
Tenancy
Multi
Listing Agency:
Crimson Real Estate Agency, LLC
Listed By:
Nancy Antonopoulos · License #9513639
(978) 835-3040
Source:
Classifiedrealtygroup
Added: Jul 20
Changed: Aug 23
Last Checked: Aug 11 at 4:55AM
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 Crimson Real Estate Agency, LLC
Investment Insights
Based on property information with market context.
This well-maintained six-family residential income property is offered for sale with all units currently occupied. The building features 12+ bedrooms across the six units and includes updates throughout, such as newer furnaces and hot water tanks.
Unit interiors are described as having hardwood floors, gas stoves, and functional layouts. Outside, the property offers ample off-street parking and a spacious grassy backyard.
The property is located on Blue Hill Avenue in a Boston setting with convenient access to shopping, restaurants, public transportation, and the Blue Hill business district.
Unit interiors are described as having hardwood floors, gas stoves, and functional layouts. Outside, the property offers ample off-street parking and a spacious grassy backyard.
The property is located on Blue Hill Avenue in a Boston setting with convenient access to shopping, restaurants, public transportation, and the Blue Hill business district.
Key Highlights
- Well‑maintained 6‑family building built in 1905 with all units currently occupied
- 12+ bedrooms total across the units, providing multiple bedroom layouts for tenants
- Updates include newer furnaces and hot water tanks
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
$164,585
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
8.66%
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%
$3,291,700
$3.3M
Cap Rate 7%
$2,351,214
$2.4M
Cap Rate 9%
$1,828,722
$1.8M
Market Conditions
NOI Build-Up for 7,006 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
$311.1K $44.40/SF
− Vacancy
−$11.8K −$1.69/SF
EGI
$299.2K $42.71/SF
− OpEx
−$134.7K −$19.22/SF
NOI
$164.6K $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%
$3,291,700
Cap Rate 7%
$2,351,214
Cap Rate 9%
$1,828,722
Alternative Uses
Best Use
Apartment 5plus
$2.35M
$2.06M – $2.74M
NOI $164,585 @ 7.0% cap · market cap 8.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.25M
$4.59M – $6.12M
NOI $367,226 @ 7.0% cap · market cap 19.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,619
Businesses Nearby
Explore this area
Business Placement
Demographics for 02119, MA
29,175
Population
12,937
Households
2.3
Avg Household Size
34
Median Age
30%
College-Educated
81%
High-School Grad
1.6 sq mi
ZIP Area
18,234
Density / Sq Mi
$43,255
Median Household Income
$38,664
Median Earnings
$1,252
Median Rent
$668,900
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 fully occupied units offer updated systems and off-street parking with a spacious backyard.
Where is this apartment building located?
The property is located at 140-142 Blue Hill Ave 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: Well‑maintained 6‑family building built in 1905 with all units currently occupied; 12+ bedrooms total across the units, providing multiple bedroom layouts for tenants; Updates include newer furnaces and hot water tanks
