Four-Family Quadplex with Private
For Sale
$1,249,000
132 Dolphin Avenue, Revere, MA 02151
2016-renovated quadplex features modern unit layouts, private entrances, and central heating and cooling for four residences.
Property Size2,560 SF
Price / SF$487.89
Days on Market141
Property Features for 132 Dolphin Avenue
General Information
Standard status
Active
Size
2,560 SF
Total Parking Spaces
3
Property subtype
Multi-family / 4 Family
Zoning
RB
Net Operating Income
$91,200
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$10,071
Amenities
City/Town Sewer, Public
No, .00
No
1
Yes
5.0
Partial, Crawl, Sump Pump, Concrete Floor, Unfinished Basement
4
4.50
5
Frame
Cleared
Ocean, Walk to, 3/10 to 1/2 Mile To Beach, Beach Ownership(Public)
Building Details
Year Built
1939
Year Renovated
2016
Tenancy
Multi
Listing Agency:
Compass
Listed By:
John Yemma · License #9504081
(508) 843-0085
Source:
Compass
Added: Apr 16
Changed: Sep 3
Last Checked: Jul 6 at 2:37AM
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 Compass
Investment Insights
Based on property information with market context.
This four-family quadplex was significantly renovated in 2016 with layout improvements and systems upgrades, including central heating and cooling, along with updated finishes. The unit mix includes a townhouse-style one-plus bedroom, 1.5-bath apartment with a private deck and laundry in the unit, plus an enclosed patio currently noted as vacant. The remaining residences include a single-level one-bedroom apartment and two mirror studios, each described with fully applianced kitchens and similar finishes. All four units have their own private entrances, supporting privacy and straightforward day-to-day operations.
The property is located in the Beachmont neighborhood of Revere, with the remarks noting it is blocks to the beach and near the MBTA Blue Line. The area is also described as having multiple parks nearby, including Revere Beach, Short Beach, and the Belle Isle reservation.
With private access for each unit, on-site laundry arrangements noted in the offering, and parking accommodated by a driveway fitting about three cars in tandem, the building is well suited to both investor and owner-occupant scenarios. The seller’s remarks also indicate long-term tenants are currently in place, which may be appealing to buyers seeking stability while maintaining the flexibility of living in one unit.
The property is located in the Beachmont neighborhood of Revere, with the remarks noting it is blocks to the beach and near the MBTA Blue Line. The area is also described as having multiple parks nearby, including Revere Beach, Short Beach, and the Belle Isle reservation.
With private access for each unit, on-site laundry arrangements noted in the offering, and parking accommodated by a driveway fitting about three cars in tandem, the building is well suited to both investor and owner-occupant scenarios. The seller’s remarks also indicate long-term tenants are currently in place, which may be appealing to buyers seeking stability while maintaining the flexibility of living in one unit.
Key Highlights
- 2016 significantly renovated 4‑family quadplex with layout improvements and systems upgrades, including central heating and cooling
- Unit mix includes a townhouse‑style 1+BR 1.5BA apartment with private deck, plus a single‑level 1BR unit
- Two studio units with fully applianced kitchens and similar updated finishes
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
$48,771
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
3.90%
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%
$975,420
$975.4K
Cap Rate 7%
$696,729
$696.7K
Cap Rate 9%
$541,900
$541.9K
Market Conditions
NOI Build-Up for 2,560 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
$73.7K $28.80/SF
− Vacancy
−$4.1K −$1.58/SF
EGI
$69.7K $27.22/SF
− OpEx
−$20.9K −$8.16/SF
NOI
$48.8K $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%
$975,420
Cap Rate 7%
$696,729
Cap Rate 9%
$541,900
Alternative Uses
Best Use
Multifamily LT 5
$696.7K
$609.6K – $812.9K
NOI $48,771 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$635.3K
$555.9K – $741.2K
NOI $44,470 @ 7.0% cap · market cap 3.56%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,086 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
301
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?
Quadplex - 2016-renovated quadplex features modern unit layouts, private entrances, and central heating and cooling for four residences.
Where is this quadplex located?
The property is located at 132 Dolphin Avenue Revere, MA.
What is the asking price?
The asking price for this property is $1,249,000.
What are key features of this property?
This property features: 2016 significantly renovated 4‑family quadplex with layout improvements and systems upgrades, including central heating and cooling; Unit mix includes a townhouse‑style 1+BR 1.5BA apartment with private deck, plus a single‑level 1BR unit; Two studio units with fully applianced kitchens and similar updated finishes
