24-Unit Multifamily Apartment
For Sale
$8,400,000
7-11 Abbot St., Boston, MA 02124
Updated multifamily property with separate gas and electric metering, off-street parking, and recently improved building systems.
Property Size14,592 SF
Price / SF$575.66
Days on Market46
Property Features for 7-11 Abbot St.
General Information
Standard status
Active
Size
14,592 SF
Property subtype
Multi-Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
22 x 2bd 1bth, 2 x 1bd 1bth
Multifamily Units
24
Additional Details
Gross Income
$722,400
Building Details
Year Built
1989
Listing Agency:
Serhant
(404) 668-6621
Listed By:
The Boston ONE Team · License #1999023818
Source:
Billskerry
Added: Jul 18
Changed: Aug 31
Last Checked: Aug 30 at 8:33PM
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 Serhant
Investment Insights
Based on property information with market context.
This 24-unit apartment property contains 14,592 square feet and was built in 1989. The unit mix includes 22 two-bedroom, one-bath apartments and 2 one-bedroom, one-bath apartments. Plumbing and electrical systems were updated within the past five years, while the roof was replaced approximately ten years ago. Gas and electric utilities are separately metered, and the property includes off-street parking.
The property is located on Abbot Street in Boston’s Dorchester area, near Ashmont Station and Ruggles Station. Its established apartment configuration, recent system improvements, and unit-level utility metering provide a clear physical profile for multifamily ownership and evaluation.
The property is located on Abbot Street in Boston’s Dorchester area, near Ashmont Station and Ruggles Station. Its established apartment configuration, recent system improvements, and unit-level utility metering provide a clear physical profile for multifamily ownership and evaluation.
Key Highlights
- 24‑unit multifamily property with 14,592 square feet
- Unit mix includes 22 2bd 1bth units and 2 1bd 1bth units
- Plumbing and electrical systems updated within the past five years
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
$342,796
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
4.08%
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%
$6,855,920
$6.9M
Cap Rate 7%
$4,897,086
$4.9M
Cap Rate 9%
$3,808,844
$3.8M
Market Conditions
NOI Build-Up for 14,592 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
$647.9K $44.40/SF
− Vacancy
−$24.6K −$1.69/SF
EGI
$623.3K $42.71/SF
− OpEx
−$280.5K −$19.22/SF
NOI
$342.8K $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%
$6,855,920
Cap Rate 7%
$4,897,086
Cap Rate 9%
$3,808,844
Alternative Uses
Best Use
Apartment 5plus
$4.90M
$4.28M – $5.71M
NOI $342,796 @ 7.0% cap · market cap 4.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.93M
$9.56M – $12.75M
NOI $764,854 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
24
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
749
Businesses Nearby
Explore this area
Business Placement
Demographics for 02124, MA
50,972
Population
21,264
Households
2.4
Avg Household Size
36
Median Age
31%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
16,991
Density / Sq Mi
$79,168
Median Household Income
$43,483
Median Earnings
$1,783
Median Rent
$607,200
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?
Apartment building - Updated multifamily property with separate gas and electric metering, off-street parking, and recently improved building systems.
Where is this apartment building located?
The property is located at 7-11 Abbot St. Boston, MA.
What is the asking price?
The asking price for this property is $8,400,000.
What are key features of this property?
This property features: 24‑unit multifamily property with 14,592 square feet; Unit mix includes 22 2bd 1bth units and 2 1bd 1bth units; Plumbing and electrical systems updated within the past five years
