Three-Unit Residential Conversion
14 Meehan Street Boston, MA 02130
14 Meehan Street, Boston, MA, 02130
$1,700,000
For Sale
$1,700,000
Approvals in place to convert a 3-story brick building into three residential units with parking.
Property Size5,120 SF
Price / SF$332.03
Days on Market76
Property Features for 14 Meehan Street
General Information
- Standard status
- Active
- Size
- 5,120 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1896
Listing agency
Olde Towne Real Estate Co.
Listed by
Douglas Bosse
(617) 262-6200
Source
Cabotandcompany
Added: May 8 Updated: Jul 21 at 5:00AM Checked: Jul 22 at 8:23AM
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 Olde Towne Real Estate Co.
Investment Insights
Based on property information with market context.
Located at 14 Meehan Street, this historically significant 19th Century, three-story brick building has a documented past including use as horse stalls and later car storage and a mixed-use office/residential building. The current approvals are in place to convert the property into three residential units with parking.
The approved plan calls for three 3-bedroom units with multiple bathrooms and an industrial-style finish, including exposed brick, plus a full basement. The building is positioned in Boston’s Stonybrook neighborhood, near Forest Hills T and several nearby neighborhood destinations, including The Midway Cafe, coffee shops, Third Cliff Bakery, and Planet Fitness.
Plans and approvals are being sold with the property, offering a defined conversion path for renovation and completion of the three-unit residential project. A 48-hour notice is required for all showings.
The approved plan calls for three 3-bedroom units with multiple bathrooms and an industrial-style finish, including exposed brick, plus a full basement. The building is positioned in Boston’s Stonybrook neighborhood, near Forest Hills T and several nearby neighborhood destinations, including The Midway Cafe, coffee shops, Third Cliff Bakery, and Planet Fitness.
Plans and approvals are being sold with the property, offering a defined conversion path for renovation and completion of the three-unit residential project. A 48-hour notice is required for all showings.
Key Highlights
- Built in 1896: 3‑story brick building
- Approvals are in place to convert the building into 3 residential units with parking
- Conversion plans call for 3‑3 bedroom units with multiple bathrooms and exposed brick
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $193.5k | $37.80 |
| − Vacancy | −$8.7k | −$1.70 |
| EGI | $184.8k | $36.10 |
| − OpEx | −$55.4k | −$10.83 |
| NOI | $129.4k | $25.27 |
5,120 SF · lease $37.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.85M
$1.62M – $2.16M
NOI $129,379 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$1.72M
$1.50M – $2.00M
NOI $120,279 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$3.83M
$3.35M – $4.47M
NOI $268,370 @ 7.0% cap · market cap 15.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Pangaea Management Corporation
Property Investment Company
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Approvals in place to convert a 3-story brick building into three residential units with parking.
Where is this triplex located?
The property is located at 14 Meehan Street Boston, MA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Built in 1896: 3‑story brick building; Approvals are in place to convert the building into 3 residential units with parking; Conversion plans call for 3‑3 bedroom units with multiple bathrooms and exposed brick
