Duplex with Renovated Upper
For Sale
$999,000
15 G, Boston, MA 02127
Two-unit property with a renovated upper residence, outdoor areas, and a first-floor unit requiring substantial work.
Property Size2,393 SF
Price / SF$417.47
Days on Market160
Property Features for 15 G
General Information
Standard status
Active
Size
2,393 SF
Property subtype
Multi-Family
Zoning
4F
Property Condition
Severity
Major Repairs Needed
Evidence
in need of a complete renovation
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$13,351
Building Details
Building Size
2,393 SF
Year Built
1905
Buildings
1
Stories
3
Listing Agency:
www.HomeZu.com
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Mar 27
Changed: Sep 2
Last Checked: Sep 1 at 4:03PM
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 www.HomeZu.com
Investment Insights
Based on property information with market context.
This 2,393-square-foot, two-unit building dates to 1905 and is being offered in as-is condition. The first-floor residence includes two bedrooms and one bathroom and requires complete renovation. The basement may offer the potential to combine with this unit as a lower-level duplex. Newer windows and side and rear yard areas are also part of the property.
The upper residence is a renovated duplex with a spacious living room, formal dining room, and eat-in kitchen featuring cabinetry, stainless steel appliances, and granite countertops. Its main level also includes a renovated full bathroom, laundry room, and access to a rear deck. The upper level contains a primary bedroom with walk-in closet access, a half bath, and a second bedroom with an additional rear-stair entry.
The property is located in South Boston and carries 4F zoning.
The upper residence is a renovated duplex with a spacious living room, formal dining room, and eat-in kitchen featuring cabinetry, stainless steel appliances, and granite countertops. Its main level also includes a renovated full bathroom, laundry room, and access to a rear deck. The upper level contains a primary bedroom with walk-in closet access, a half bath, and a second bedroom with an additional rear-stair entry.
The property is located in South Boston and carries 4F zoning.
Key Highlights
- 2,393 SF duplex building with two residential units
- Built in 1905; offered in as‑is condition
- Renovated upper duplex with living, dining, kitchen, laundry, and deck access
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
$60,469
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
6.05%
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%
$1,209,380
$1.2M
Cap Rate 7%
$863,843
$863.8K
Cap Rate 9%
$671,878
$671.9K
Market Conditions
NOI Build-Up for 2,393 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
$90.5K $37.80/SF
− Vacancy
−$4.1K −$1.70/SF
EGI
$86.4K $36.10/SF
− OpEx
−$25.9K −$10.83/SF
NOI
$60.5K $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%
$1,209,380
Cap Rate 7%
$863,843
Cap Rate 9%
$671,878
Alternative Uses
Best Use
Multifamily LT 5
$863.8K
$755.9K – $1.01M
NOI $60,469 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$803.1K
$702.7K – $936.9K
NOI $56,216 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$1.79M
$1.57M – $2.09M
NOI $125,431 @ 7.0% cap · market cap 12.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,162
Businesses Nearby
Explore this area
Business Placement
Demographics for 02127, MA
37,939
Population
19,495
Households
1.9
Avg Household Size
31
Median Age
69%
College-Educated
95%
High-School Grad
2.1 sq mi
ZIP Area
18,066
Density / Sq Mi
$156,373
Median Household Income
$85,444
Median Earnings
$2,435
Median Rent
$858,600
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?
Duplex - Two-unit property with a renovated upper residence, outdoor areas, and a first-floor unit requiring substantial work.
Where is this duplex located?
The property is located at 15 G Boston, MA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 2,393 SF duplex building with two residential units; Built in 1905; offered in as‑is condition; Renovated upper duplex with living, dining, kitchen, laundry, and deck access
