Renovated Three-Family with Potential
For Sale
$1,249,000
Pending
1420 River St, Boston, MA 02136
Fully renovated three-family with flexible bedroom layouts, renovated interior finishes, and a basement ADU option; all units vacant.
Property Size3,438 SF
Days on Market58
Property Features for 1420 River St
General Information
Standard status
Pending
Size
3,438 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$8,721
Amenities
hardwood floors
quartz countertop
stainless steel stove and appliances
generous yard
Building Details
Tenancy
Multi
Listing Agency:
Bohio Realty LLC
(617) 905-6680
Listed By:
Anthony Jean-Baptiste · License #9510262
(617) 905-6680
Source:
Exprealty
Added: Jun 25
Changed: Aug 20
Last Checked: Aug 21 at 10:13AM
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 Bohio Realty LLC
Investment Insights
Based on property information with market context.
Fully renovated three-family property offering flexible 3–4 bedroom living. Interior features include hardwood floors, quartz countertops, and a 36-inch stainless steel stove with included appliances. The layout includes a master ensuite, and the home also features a generous yard suitable for outdoor entertaining.
The basement provides an ADU option that could support a potential 4th unit. All units are vacant, giving a buyer flexibility for owner-occupancy or investment use. An open house is scheduled for 6/26 and 6/27 from 12:00 pm to 2:00 pm.
With approximately 3,438 square feet, this renovated three-family is designed for comfortable in-home living and offers an additional pathway to expand through a basement ADU.
The basement provides an ADU option that could support a potential 4th unit. All units are vacant, giving a buyer flexibility for owner-occupancy or investment use. An open house is scheduled for 6/26 and 6/27 from 12:00 pm to 2:00 pm.
With approximately 3,438 square feet, this renovated three-family is designed for comfortable in-home living and offers an additional pathway to expand through a basement ADU.
Key Highlights
- Fully renovated three‑family property with flexible 3–4 bedroom living
- Hardwood floors and quartz countertops with a 36‑inch stainless steel stove and appliances
- Master ensuite and generous yard for outdoor entertaining
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
$86,876
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
6.96%
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%
$1,737,520
$1.7M
Cap Rate 7%
$1,241,086
$1.2M
Cap Rate 9%
$965,289
$965.3K
Market Conditions
NOI Build-Up for 3,438 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
$130.0K $37.80/SF
− Vacancy
−$5.8K −$1.70/SF
EGI
$124.1K $36.10/SF
− OpEx
−$37.2K −$10.83/SF
NOI
$86.9K $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%
$1,737,520
Cap Rate 7%
$1,241,086
Cap Rate 9%
$965,289
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.09M – $1.45M
NOI $86,876 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.35M
NOI $80,766 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $180,206 @ 7.0% cap · market cap 14.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,051
Businesses Nearby
Explore this area
Business Placement
Demographics for 02136, MA
35,102
Population
14,031
Households
2.5
Avg Household Size
39
Median Age
32%
College-Educated
88%
High-School Grad
4.6 sq mi
ZIP Area
7,631
Density / Sq Mi
$96,862
Median Household Income
$50,793
Median Earnings
$1,772
Median Rent
$566,300
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?
Triplex - Fully renovated three-family with flexible bedroom layouts, renovated interior finishes, and a basement ADU option; all units vacant.
Where is this triplex located?
The property is located at 1420 River St Boston, 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: Fully renovated three‑family property with flexible 3–4 bedroom living; Hardwood floors and quartz countertops with a 36‑inch stainless steel stove and appliances; Master ensuite and generous yard for outdoor entertaining
