7-Unit Apartment
For Sale
$2,299,999
155 Kilsyth Road, Boston, MA 02135
Historic multifamily property with stone exterior, on-site parking, and access to transit, highways, shopping, schools, and a hospital.
Property Size5,093 SF
Lot Size0.30 Acres
Price / SF$451.60
Days on Market178
Property Features for 155 Kilsyth Road
General Information
Standard status
Active
Size
5,093 SF
Total Parking Spaces
14
Lot size
0.30 Acres
Property subtype
Multi-family / 4 Family
Zoning
R4
Net Operating Income
$184,476
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Gross Income
$240,000
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$14,773
Amenities
City/Town Sewer, Public
Yes, Yes, 3.00, Paved Drive, Paved Drive
No
8.0
7
1
7.50
8
Stone
Building Details
Year Built
1899
Listing Agency:
Hilton Realty, Inc.
(617) 651-2295
Listed By:
Meichelle Ferguson · License #9522614
(617) 651-2295
Source:
Compass
Added: Mar 7
Changed: Aug 31
Last Checked: Aug 30 at 3:39AM
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 Hilton Realty, Inc.
Investment Insights
Based on property information with market context.
This 7-unit multifamily property occupies a 12,949-square-foot lot and includes 5,093 square feet of living space. Built in 1899, the residence features a stone exterior, original architectural details, and significant on-site parking. The certificate of use accommodates 4–8 units under the City of Boston’s designation, and one unit may be delivered vacant or rented subject to the offer.
The property is located at 155 Kilsyth Road in Boston, with proximity to train service, highway access, shopping, schools, and a hospital. R4 zoning and the existing apartment configuration provide a defined residential income-property profile.
The property is located at 155 Kilsyth Road in Boston, with proximity to train service, highway access, shopping, schools, and a hospital. R4 zoning and the existing apartment configuration provide a defined residential income-property profile.
Key Highlights
- 7‑unit apartment property with a certificate of use for 4–8 units
- 5,093 square feet of living space on a 12,949‑square‑foot lot
- Built in 1899 with stone exterior and original architectural details
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
$119,645
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
5.20%
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%
$2,392,900
$2.4M
Cap Rate 7%
$1,709,214
$1.7M
Cap Rate 9%
$1,329,389
$1.3M
Market Conditions
NOI Build-Up for 5,093 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
$226.1K $44.40/SF
− Vacancy
−$8.6K −$1.69/SF
EGI
$217.5K $42.71/SF
− OpEx
−$97.9K −$19.22/SF
NOI
$119.6K $23.49/SF
Area
Boston, MA
Vacancy
3.80%
Lease Rate
$44.40 /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%
$2,392,900
Cap Rate 7%
$1,709,214
Cap Rate 9%
$1,329,389
Alternative Uses
Best Use
Apartment 5plus
$1.71M
$1.50M – $1.99M
NOI $119,645 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.81M
$3.34M – $4.45M
NOI $266,955 @ 7.0% cap · market cap 11.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,397
Businesses Nearby
Explore this area
Business Placement
Demographics for 02135, MA
47,232
Population
22,519
Households
2.1
Avg Household Size
29
Median Age
71%
College-Educated
93%
High-School Grad
2.6 sq mi
ZIP Area
18,166
Density / Sq Mi
$88,208
Median Household Income
$57,124
Median Earnings
$2,179
Median Rent
$684,000
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 - Historic multifamily property with stone exterior, on-site parking, and access to transit, highways, shopping, schools, and a hospital.
Where is this apartment building located?
The property is located at 155 Kilsyth Road Boston, MA.
What is the asking price?
The asking price for this property is $2,299,999.
What are key features of this property?
This property features: 7‑unit apartment property with a certificate of use for 4–8 units; 5,093 square feet of living space on a 12,949‑square‑foot lot; Built in 1899 with stone exterior and original architectural details
