Permitted Three-Unit Multifamily
For Sale
$1,149,000
131 Nonantum St, Boston, MA 02135
R2-zoned property with an unfinished basement and off-street parking in Brighton’s Oak Square neighborhood.
Property Size2,749 SF
Lot Size0.20 Acres
Price / SF$417.97
Days on Market84
Property Features for 131 Nonantum St
General Information
Standard status
Active
Size
2,749 SF
Total Parking Spaces
3
Lot size
0.20 Acres
Property subtype
Multi-Family
Zoning
R2
Property Condition
Severity
Major Repairs Needed
Evidence
full gut renovation
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,327
Building Details
Building Size
2,749 SF
Year Built
1900
Stories
3
Listing Agency:
Coldwell Banker Realty - Boston
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 9
Changed: Aug 30
Last Checked: Aug 30 at 1:12PM
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 Coldwell Banker Realty - Boston
Investment Insights
Based on property information with market context.
This triplex property presents an existing two-family structure on an 8,681 sqft lot in Brighton’s Oak Square neighborhood. The current building contains 1,778 sqft of living area, a full unfinished basement, and off-street parking. The structure requires a full gut renovation and addition, and the sale is as-is.
Building permits are included for a 2,749 sqft, three-unit multifamily project with two three-bedroom, two-bath units and one two-bedroom, two-bath unit. The permitted configuration supports continued multifamily ownership or a condominium sellout. The property is zoned R2 and was built in 1900.
Building permits are included for a 2,749 sqft, three-unit multifamily project with two three-bedroom, two-bath units and one two-bedroom, two-bath unit. The permitted configuration supports continued multifamily ownership or a condominium sellout. The property is zoned R2 and was built in 1900.
Key Highlights
- Building permits for a 2,749 sqft, 3‑unit multifamily project
- Approved unit mix: two 3 bed/2 bath units and one 2 bed/2 bath unit
- 8,681 sqft lot in Brighton’s Oak Square neighborhood
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
$69,465
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
6.05%
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%
$1,389,300
$1.4M
Cap Rate 7%
$992,357
$992.4K
Cap Rate 9%
$771,833
$771.8K
Market Conditions
NOI Build-Up for 2,749 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
$103.9K $37.80/SF
− Vacancy
−$4.7K −$1.70/SF
EGI
$99.2K $36.10/SF
− OpEx
−$29.8K −$10.83/SF
NOI
$69.5K $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%
$1,389,300
Cap Rate 7%
$992,357
Cap Rate 9%
$771,833
Alternative Uses
Best Use
Multifamily LT 5
$992.4K
$868.3K – $1.16M
NOI $69,465 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$922.6K
$807.3K – $1.08M
NOI $64,580 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$2.06M
$1.80M – $2.40M
NOI $144,092 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
838
Businesses Nearby
Explore this area
Business Placement
Demographics for 02135, MA
47,232
Population
22,519
Households
2.1
Avg Household Size
29
Median Age
71%
College-Educated
93%
High-School Grad
2.6 sq mi
ZIP Area
18,166
Density / Sq Mi
$88,208
Median Household Income
$57,124
Median Earnings
$2,179
Median Rent
$684,000
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 - R2-zoned property with an unfinished basement and off-street parking in Brighton’s Oak Square neighborhood.
Where is this triplex located?
The property is located at 131 Nonantum St Boston, MA.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: Building permits for a 2,749 sqft, 3‑unit multifamily project; Approved unit mix: two 3 bed/2 bath units and one 2 bed/2 bath unit; 8,681 sqft lot in Brighton’s Oak Square neighborhood
