Three-Story 12-Unit Apartment
For Sale
$3,450,000
Pending
15-15A Jason St, Arlington, MA 02476
Well-maintained three-story building with twelve 1-bedroom units, off-street parking, on-site laundry, and basement storage.
Property Size10,450 SF
Lot Size0.16 Acres
Days on Market125
Property Features for 15-15A Jason St
General Information
Standard status
Pending
Size
10,450 SF
Total Parking Spaces
3
Lot size
0.16 Acres
Property subtype
5+ Family - 5+ Units Up/Down
Additional Details
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$26,795
Building Details
Building Size
10,450 SF
Year Built
1900
Stories
3
Listing Agency:
Horvath & Tremblay
Listed By:
Kelleher - Pentore Team
(781) 776-4000
Source:
Downtownbostonrealty
Added: May 4
Changed: Aug 8
Last Checked: Jul 23 at 5:39AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
Jason Arms is a meticulously maintained three-story, 12-unit apartment building containing twelve 1-bedroom/1-bathroom units. The property offers off-street parking, on-site laundry, and basement storage for tenants.
The building sits on a 0.16-acre parcel and includes three off-street parking spaces. Recent capital improvements include a new gas-fired boiler (2020), a new hot water system (2022), and new electrical panels with circuit breakers in all units.
The unit mix includes six larger 1-bedroom “1 Bedroom++” style units. The current opportunity is to reconfigure space in half of the building to create additional 2-bedroom or 3-bedroom units.
The building sits on a 0.16-acre parcel and includes three off-street parking spaces. Recent capital improvements include a new gas-fired boiler (2020), a new hot water system (2022), and new electrical panels with circuit breakers in all units.
The unit mix includes six larger 1-bedroom “1 Bedroom++” style units. The current opportunity is to reconfigure space in half of the building to create additional 2-bedroom or 3-bedroom units.
Key Highlights
- 12‑unit, three‑story multifamily building built in 1900 at 15 Jason Street in Arlington, MA
- Twelve 1‑bedroom/1‑bath units totaling 10,450 SF of gross living area in a 14,696 SF gross area
- 0.16‑acre parcel with three off‑street parking spaces and tenant amenities including on‑site laundry and basement storage
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
$292,401
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
8.48%
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%
$5,848,020
$5.8M
Cap Rate 7%
$4,177,157
$4.2M
Cap Rate 9%
$3,248,900
$3.2M
Market Conditions
NOI Build-Up for 14,696 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
$560.8K $38.16/SF
− Vacancy
−$29.2K −$1.98/SF
EGI
$531.6K $36.18/SF
− OpEx
−$239.2K −$16.28/SF
NOI
$292.4K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /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%
$5,848,020
Cap Rate 7%
$4,177,157
Cap Rate 9%
$3,248,900
Alternative Uses
Best Use
Apartment 5plus
$4.18M
$3.66M – $4.87M
NOI $292,401 @ 7.0% cap · market cap 8.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.70M
$7.61M – $10.15M
NOI $608,998 @ 7.0% cap · market cap 17.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,688
Businesses Nearby
Explore this area
Business Placement
Demographics for 02476, MA
17,757
Population
8,058
Households
2.2
Avg Household Size
44
Median Age
75%
College-Educated
96%
High-School Grad
2.1 sq mi
ZIP Area
8,456
Density / Sq Mi
$145,150
Median Household Income
$91,600
Median Earnings
$1,823
Median Rent
$882,100
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?
Apartment building - Well-maintained three-story building with twelve 1-bedroom units, off-street parking, on-site laundry, and basement storage.
Where is this apartment building located?
The property is located at 15-15A Jason St Arlington, MA.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: 12‑unit, three‑story multifamily building built in 1900 at 15 Jason Street in Arlington, MA; Twelve 1‑bedroom/1‑bath units totaling 10,450 SF of gross living area in a 14,696 SF gross area; 0.16‑acre parcel with three off‑street parking spaces and tenant amenities including on‑site laundry and basement storage
