Fire-Damaged Multifamily
1509A North Shore Rd. Revere, MA 02151
1509A North Shore Rd., Revere, MA, 02151
$779,900
For Sale
$779,900
Triplex for sale in need of restoration after a basement fire, sold as-is with cash buyers only.
Property Size2,118 SF
Price / SF$368.22
Days on Market36
Property Features for 1509A North Shore Rd.
General Information
- Standard status
- Active
- Size
- 2,118 SF
- Property subtype
- 3 Family
Building Details
- Year Built
- 1900
Listing agency
Century 21 North East
(617) 590-7440
Listed by
Diana Franco
(617) 590-7440
Source
Lockandkeyre
Added: Jun 17 Updated: Jul 22 at 3:10AM Checked: Jul 22 at 3:10AM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This for-sale triplex is being offered as-is following a basement fire on August 11, 2025. The majority of the damage occurred in the basement, with additional damage to the upper units attributed to firefighting efforts. The City of Revere requires the installation of a sprinkler system throughout the building as part of the restoration process. The sale is restricted to cash buyers only and the property will not qualify for conventional, FHA, VA, or other traditional financing.
The property is located behind another residence and is accessed via a 3-foot-wide pedestrian easement, with no vehicle access or on-site parking. It is approximately a 2-minute walk to the Revere Beach MBTA Station and less than 5 minutes to Revere Beach, with nearby restaurants, shopping, and local amenities.
Buyer and buyer’s agent are responsible for due diligence regarding permits, code requirements, renovations, and intended use.
The property is located behind another residence and is accessed via a 3-foot-wide pedestrian easement, with no vehicle access or on-site parking. It is approximately a 2-minute walk to the Revere Beach MBTA Station and less than 5 minutes to Revere Beach, with nearby restaurants, shopping, and local amenities.
Buyer and buyer’s agent are responsible for due diligence regarding permits, code requirements, renovations, and intended use.
Key Highlights
- Triplex built in 1900 being sold as‑is following a basement fire on August 11, 2025
- Most fire damage is in the basement, with additional damage to upper units from firefighting efforts
- City of Revere requires installation of a sprinkler system throughout the building as part of restoration
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $61.0k | $28.80 |
| − Vacancy | −$3.4k | −$1.58 |
| EGI | $57.6k | $27.22 |
| − OpEx | −$17.3k | −$8.16 |
| NOI | $40.4k | $19.05 |
2,118 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$576.4K
$504.4K – $672.5K
NOI $40,350 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$525.6K
$459.9K – $613.2K
NOI $36,792 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,769 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Triplex for sale in need of restoration after a basement fire, sold as-is with cash buyers only.
Where is this triplex located?
The property is located at 1509A North Shore Rd. Revere, MA.
What is the asking price?
The asking price for this property is $779,900.
What are key features of this property?
This property features: Triplex built in 1900 being sold as‑is following a basement fire on August 11, 2025; Most fire damage is in the basement, with additional damage to upper units from firefighting efforts; City of Revere requires installation of a sprinkler system throughout the building as part of restoration
