Four-Unit Multifamily with Finished Lower
For Sale
$1,650,000
14 Everton Street, Boston, MA 02121
Four-unit multifamily with 14 bedrooms and in-unit laundry, including a finished lower-level apartment.
Property Size5,135 SF
Price / SF$321.32
Days on Market155
Property Features for 14 Everton Street
General Information
Standard status
Active
Size
5,135 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
4
Building Details
Year Built
1905
Listing Agency:
Stony Brook & Lennox Realty Advisors
(617) 905-4014
Listed By:
Markese Daise · License #449592899
Source:
Elevatedboston
Added: Mar 22
Changed: Aug 22
Last Checked: Aug 22 at 9:47AM
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 Stony Brook & Lennox Realty Advisors
Investment Insights
Based on property information with market context.
This four-unit multifamily property provides 14 bedrooms and 5 bathrooms across four expansive units, including a complete finished apartment in the lower level. Interiors feature hardwood floors and in-unit laundry, and the property includes updated systems. The overall setup offers tenants separate residences within the building while retaining flexibility through its four distinct units.
Located on Everton Street in Boston’s Dorchester neighborhood, the property is positioned near public transportation and within reach of neighborhood restaurants and shopping. The location also provides easy access to Downtown Boston.
For prospective buyers, the combination of four units plus a finished lower-level apartment supports a scaled income profile, with the unit mix designed around comfortable, modern layouts.
Located on Everton Street in Boston’s Dorchester neighborhood, the property is positioned near public transportation and within reach of neighborhood restaurants and shopping. The location also provides easy access to Downtown Boston.
For prospective buyers, the combination of four units plus a finished lower-level apartment supports a scaled income profile, with the unit mix designed around comfortable, modern layouts.
Key Highlights
- 1905 Dorchester, MA four‑unit multifamily with 14 bedrooms and 5 bathrooms
- Lower level includes a complete finished apartment as part of the four units
- Each residence features hardwood floors and in‑unit laundry
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
$129,758
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
7.86%
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%
$2,595,160
$2.6M
Cap Rate 7%
$1,853,686
$1.9M
Cap Rate 9%
$1,441,756
$1.4M
Market Conditions
NOI Build-Up for 5,135 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
$194.1K $37.80/SF
− Vacancy
−$8.7K −$1.70/SF
EGI
$185.4K $36.10/SF
− OpEx
−$55.6K −$10.83/SF
NOI
$129.8K $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%
$2,595,160
Cap Rate 7%
$1,853,686
Cap Rate 9%
$1,441,756
Alternative Uses
Best Use
Multifamily LT 5
$1.85M
$1.62M – $2.16M
NOI $129,758 @ 7.0% cap · market cap 7.86%
Second Best
Apartment 5plus
$1.72M
$1.51M – $2.01M
NOI $120,632 @ 7.0% cap · market cap 7.31%
Theoretical Best
Office A
$3.85M
$3.36M – $4.49M
NOI $269,156 @ 7.0% cap · market cap 16.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,689
Businesses Nearby
Explore this area
Business Placement
Demographics for 02121, MA
28,766
Population
11,384
Households
2.5
Avg Household Size
33
Median Age
21%
College-Educated
75%
High-School Grad
1.9 sq mi
ZIP Area
15,140
Density / Sq Mi
$38,565
Median Household Income
$33,700
Median Earnings
$1,316
Median Rent
$548,100
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-unit multifamily with 14 bedrooms and in-unit laundry, including a finished lower-level apartment.
Where is this quadplex located?
The property is located at 14 Everton Street Boston, MA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 1905 Dorchester, MA four‑unit multifamily with 14 bedrooms and 5 bathrooms; Lower level includes a complete finished apartment as part of the four units; Each residence features hardwood floors and in‑unit laundry
