12-Unit Apartment
For Sale
$3,450,000
15 Jason Street, Arlington, MA 02476
Three-story multifamily property with one-bedroom apartments, on-site laundry, basement storage, and off-street parking.
Property Size10,450 SF
Lot Size0.16 Acres
Price / SF$330.14
Days on Market119
Property Features for 15 Jason Street
General Information
Standard status
Active
Size
10,450 SF
Total Parking Spaces
3
Lot size
0.16 Acres
Property subtype
Multi-family / 5+ Family - 5+ Units Up/Down
Zoning
R2
Net Operating Income
$219,090
Units
Unit Mix
12 x 1BR/1BA
Multifamily Units
12
Taxes and HOA fees
Annual Taxes
$26,795
Amenities
on-site laundry
basement storage
City/Town Sewer, Public
No, .00
No
Wood
12.0
Unfinished Basement
12
12.00
Frame
Rubber
Corner Lot
Porch - Screened
Screened
Building Details
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
Horvath & Tremblay
(781) 776-4000
Listed By:
Kelleher - Pentore Team · License #9528992
(781) 776-4000
Source:
Compass
Added: May 4
Changed: Aug 30
Last Checked: Aug 30 at 6:37AM
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.
This three-story apartment building contains 12 one-bedroom, one-bathroom units and provides 10,450 square feet of gross living area within 14,696 square feet of gross area. The property sits on a 0.16-acre corner parcel and includes three off-street parking spaces, on-site laundry, basement storage, and a screened porch. Six apartments are described as larger one-bedroom-plus layouts.
Capital improvements include a gas-fired boiler installed in 2020, a hot water system added in 2022, and electrical panels with circuit breakers serving all units. The building was constructed in 1900 and is located at 15 Jason Street in Arlington, Massachusetts. Zoning is R2.
Capital improvements include a gas-fired boiler installed in 2020, a hot water system added in 2022, and electrical panels with circuit breakers serving all units. The building was constructed in 1900 and is located at 15 Jason Street in Arlington, Massachusetts. Zoning is R2.
Key Highlights
- 12‑unit apartment building with twelve 1‑Bedroom/1‑Bathroom units
- 10,450 square feet of gross living area within 14,696 square feet of gross area
- 0.16‑acre corner parcel with three off‑street parking spaces
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
$207,920
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
6.03%
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%
$4,158,400
$4.2M
Cap Rate 7%
$2,970,286
$3.0M
Cap Rate 9%
$2,310,222
$2.3M
Market Conditions
NOI Build-Up for 10,450 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
$398.8K $38.16/SF
− Vacancy
−$20.7K −$1.98/SF
EGI
$378.0K $36.18/SF
− OpEx
−$170.1K −$16.28/SF
NOI
$207.9K $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%
$4,158,400
Cap Rate 7%
$2,970,286
Cap Rate 9%
$2,310,222
Alternative Uses
Best Use
Apartment 5plus
$2.97M
$2.60M – $3.47M
NOI $207,920 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.19M
$5.41M – $7.22M
NOI $433,045 @ 7.0% cap · market cap 12.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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 - Three-story multifamily property with one-bedroom apartments, on-site laundry, basement storage, and off-street parking.
Where is this apartment building located?
The property is located at 15 Jason Street 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 apartment building with twelve 1‑Bedroom/1‑Bathroom units; 10,450 square feet of gross living area within 14,696 square feet of gross area; 0.16‑acre corner parcel with three off‑street parking spaces
