Four-Unit Multifamily
New
For Sale
$1,075,000
Pending
25 Business St, Boston, MA 02136
Four two-bedroom apartments combine subsidized and market-rate leasing arrangements in Boston’s Hyde Park neighborhood.
Property Size3,544 SF
Days on Market6
Property Features for 25 Business St
General Information
Standard status
Pending
Size
3,544 SF
Total Parking Spaces
8
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$9
Building Details
Building Size
3,544 SF
Year Built
1899
Listing Agency:
Boston Realty Advisors
(617) 768-7333
Listed By:
Daniel Alper · License #CN254381
Source:
Classifiedrealtygroup
Added: Aug 17
Changed: Aug 21
Last Checked: Aug 20 at 4:41AM
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 Boston Realty Advisors
Investment Insights
Based on property information with market context.
This four-unit multifamily property at 25 Business St. includes four two-bedroom apartments in a building constructed in 1899. The current leasing mix includes three units occupied by Section 8 tenants and one rented at market rate, providing a combination of HUD-backed tenancy and conventional leasing.
The property is located in Boston’s Hyde Park neighborhood near Cleary Square. Nearby educational institutions include Curry College, MCPHS University, and MassArt, while Mattapan Station provides access to regional transit. Stony Brook Reservation and Blue Hills Reservation are also in the surrounding area.
The property is located in Boston’s Hyde Park neighborhood near Cleary Square. Nearby educational institutions include Curry College, MCPHS University, and MassArt, while Mattapan Station provides access to regional transit. Stony Brook Reservation and Blue Hills Reservation are also in the surrounding area.
Key Highlights
- Four two‑bedroom units in a single multifamily property
- Three units leased to Section 8 tenants
- One unit leased at market rate
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
$89,554
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
8.33%
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%
$1,791,080
$1.8M
Cap Rate 7%
$1,279,343
$1.3M
Cap Rate 9%
$995,044
$995.0K
Market Conditions
NOI Build-Up for 3,544 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
$134.0K $37.80/SF
− Vacancy
−$6.0K −$1.70/SF
EGI
$127.9K $36.10/SF
− OpEx
−$38.4K −$10.83/SF
NOI
$89.6K $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%
$1,791,080
Cap Rate 7%
$1,279,343
Cap Rate 9%
$995,044
Alternative Uses
Best Use
Multifamily LT 5
$1.28M
$1.12M – $1.49M
NOI $89,554 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,256 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$2.65M
$2.32M – $3.10M
NOI $185,762 @ 7.0% cap · market cap 17.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,022
Businesses Nearby
Explore this area
Business Placement
Demographics for 02136, MA
35,102
Population
14,031
Households
2.5
Avg Household Size
39
Median Age
32%
College-Educated
88%
High-School Grad
4.6 sq mi
ZIP Area
7,631
Density / Sq Mi
$96,862
Median Household Income
$50,793
Median Earnings
$1,772
Median Rent
$566,300
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?
Quadplex - Four two-bedroom apartments combine subsidized and market-rate leasing arrangements in Boston’s Hyde Park neighborhood.
Where is this quadplex located?
The property is located at 25 Business St Boston, MA.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Four two‑bedroom units in a single multifamily property; Three units leased to Section 8 tenants; One unit leased at market rate
