Three-Deck Triplex with Rear
For Sale
$1,199,000
15 Bailey St, Boston, MA 02124
Classic three-decker with rear decks overlooking a landscaped yard and off-street parking.
Property Size3,801 SF
Price / SF$315.44
Days on Market98
Property Features for 15 Bailey St
General Information
Standard status
Active
Size
3,801 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Ashmont
Additional Details
Multifamily Units
3
Building Details
Year Built
1900
Stories
3
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty - Dorchester
Listed By:
Tara O Riordan
(617) 680-1039
Source:
Gooddeedsrealtypartners
Added: Jul 20
Changed: Oct 15
Last Checked: Oct 7 at 5:10PM
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 Coldwell Banker Realty - Dorchester
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Investment Insights
Based on property information with market context.
This classic three-decker triplex offers three residential units, each featuring two bedrooms, a living room, a dining room, a full kitchen, and a full bath. The building includes rear decks that overlook a landscaped yard, providing an outdoor area for each unit. Off-street parking is available. Unit 3 is noted as having a newer kitchen and bath.
Located in Dorchester, the property is described as being within a short distance to the T, shopping, the YMCA, local parks, and restaurants.
The offering is presented as a maintained building with multiple upgrades across the units and the property. Total area is listed as 6,300 square feet, with the parcel size shown as 3,801 square feet.
Located in Dorchester, the property is described as being within a short distance to the T, shopping, the YMCA, local parks, and restaurants.
The offering is presented as a maintained building with multiple upgrades across the units and the property. Total area is listed as 6,300 square feet, with the parcel size shown as 3,801 square feet.
Key Highlights
- Year built 1900 classic three‑decker with 3 residential units
- Each unit features 2 bedrooms, living room, dining room, full kitchen, and full bath
- Total building area of 6,300 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$96,049
Cap Rate
8.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,920,980
$1.9M
Cap Rate 7%
$1,372,129
$1.4M
Cap Rate 9%
$1,067,211
$1.1M
Market Conditions
NOI Build-Up for 3,801 SF
Gross rent
$143.7K $37.80/SF
− Vacancy
−$6.5K −$1.70/SF
EGI
$137.2K $36.10/SF
− OpEx
−$41.2K −$10.83/SF
NOI
$96.0K $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 Rate 5%
$1,920,980
Cap Rate 7%
$1,372,129
Cap Rate 9%
$1,067,211
Alternative Uses
Best Use
Multifamily LT 5
$1.37M
$1.20M – $1.60M
NOI $96,049 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$1.28M
$1.12M – $1.49M
NOI $89,293 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$2.85M
$2.49M – $3.32M
NOI $199,233 @ 7.0% cap · market cap 16.62%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,728
Businesses Nearby
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Business Placement
Demographics for 02124, MA
50,972
Population
21,264
Households
2.4
Avg Household Size
36
Median Age
31%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
16,991
Density / Sq Mi
$79,168
Median Household Income
$43,483
Median Earnings
$1,783
Median Rent
$607,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Classic three-decker with rear decks overlooking a landscaped yard and off-street parking.
Where is this triplex located?
The property is located at 15 Bailey St Boston, MA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Year built 1900 classic three‑decker with 3 residential units; Each unit features 2 bedrooms, living room, dining room, full kitchen, and full bath; Total building area of 6,300 SF
