Apartment Building with Duplex
New
For Sale
$2,550,000
4 Union St, Boston, MA 02135
Four residences offer in-unit laundry, private decks, separate utilities, and on-site parking for multifamily occupancy.
Property Size5,202 SF
Days on Market3
Property Features for 4 Union St
General Information
Standard status
Active
Size
5,202 SF
Total Parking Spaces
8
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$16,386
Building Details
Building Size
5,202 SF
Year Built
1925
Listing Agency:
NextGen Realty, Inc.
Listed By:
Ian Armstrong
(508) 808-2764
Source:
Classifiedrealtygroup
Added: Sep 11
Last Checked: Sep 13 at 5:40AM
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 NextGen Realty, Inc.
Investment Insights
Based on property information with market context.
Located at 4 Union Street in Brighton, this multifamily property comprises four duplex residences with 12 bedrooms and 7.5 bathrooms across approximately 5,202 square feet. Built in 1925, the property includes generous living areas, in-unit laundry, and outdoor deck space. Separate utilities help limit owner-paid operating expenses, while an off-street parking area accommodates up to eight vehicles.
Leases are in place through August 31, 2027. The property is situated near area universities, major employment and medical centers, restaurants, public transportation, and highway access. Its corner-lot setting and established rental history support an income-producing residential configuration with multiple dwelling units and dedicated parking.
Leases are in place through August 31, 2027. The property is situated near area universities, major employment and medical centers, restaurants, public transportation, and highway access. Its corner-lot setting and established rental history support an income-producing residential configuration with multiple dwelling units and dedicated parking.
Key Highlights
- Four duplex residences with 12 bedrooms and 7.5 bathrooms
- Approximately 5,202 square feet of living area
- Leases in place through August 31, 2027
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
$122,206
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
4.79%
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%
$2,444,120
$2.4M
Cap Rate 7%
$1,745,800
$1.7M
Cap Rate 9%
$1,357,844
$1.4M
Market Conditions
NOI Build-Up for 5,202 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
$231.0K $44.40/SF
− Vacancy
−$8.8K −$1.69/SF
EGI
$222.2K $42.71/SF
− OpEx
−$100.0K −$19.22/SF
NOI
$122.2K $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%
$2,444,120
Cap Rate 7%
$1,745,800
Cap Rate 9%
$1,357,844
Alternative Uses
Best Use
Apartment 5plus
$1.75M
$1.53M – $2.04M
NOI $122,206 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.90M
$3.41M – $4.54M
NOI $272,668 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,796
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Four residences offer in-unit laundry, private decks, separate utilities, and on-site parking for multifamily occupancy.
Where is this apartment building located?
The property is located at 4 Union St Boston, MA.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Four duplex residences with 12 bedrooms and 7.5 bathrooms; Approximately 5,202 square feet of living area; Leases in place through August 31, 2027
