Renovated Multifamily
16 Mitchell Street Boston, MA 02127
16 Mitchell Street, Boston, MA, 02127
$1,849,000
For Sale
$1,849,000
Renovated multifamily property with move-in-ready units and potential for central-air upgrades and basement expansion.
Property Size2,262 SF
Price / SF$817.42
Days on Market166
Property Features for 16 Mitchell Street
General Information
- Standard status
- Active
- Size
- 2,262 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1905
Listing agency
Greater Metropolitan R. E.
Listed by
Ryan Foley
(617) 750-6378
Source
Benoitrealestate
Added: Feb 7 Updated: Jul 21 at 7:57AM Checked: Jul 22 at 7:25AM
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 Greater Metropolitan R. E.
Investment Insights
Based on property information with market context.
16 Mitchell Street is a multifamily property offering renovated, bright living spaces designed for strong day-to-day livability. The units are described as move-in ready, with thoughtful updates already in place.
The property is located in South Boston within the Andrew Square corridor, just moments from the transformative Washington Village development, in an area seeing ongoing neighborhood change. The listing notes additional opportunities to improve the asset, including adding central-air to further enhance comfort and income potential, as well as the possibility to expand into the basement to capture additional usable space for long-term value.
The property is located in South Boston within the Andrew Square corridor, just moments from the transformative Washington Village development, in an area seeing ongoing neighborhood change. The listing notes additional opportunities to improve the asset, including adding central-air to further enhance comfort and income potential, as well as the possibility to expand into the basement to capture additional usable space for long-term value.
Key Highlights
- Year built 1905 multifamily with renovated, move‑in‑ready units
- Renovated, bright living spaces with updates designed for strong rental appeal
- Potential to add central‑air to increase rental appeal and income potential
Local Financial Insights For Apartment 5plus
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 | $100.4k | $44.40 |
| − Vacancy | −$3.8k | −$1.69 |
| EGI | $96.6k | $42.71 |
| − OpEx | −$43.5k | −$19.22 |
| NOI | $53.1k | $23.49 |
2,262 SF · lease $44.40/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$759.1K
$664.2K – $885.7K
NOI $53,139 @ 7.0% cap · market cap 2.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.69M
$1.48M – $1.98M
NOI $118,565 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
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FAQs
What type of property is this?
Multifamily property - Renovated multifamily property with move-in-ready units and potential for central-air upgrades and basement expansion.
Where is this multifamily property located?
The property is located at 16 Mitchell Street Boston, MA.
What is the asking price?
The asking price for this property is $1,849,000.
What are key features of this property?
This property features: Year built 1905 multifamily with renovated, move‑in‑ready units; Renovated, bright living spaces with updates designed for strong rental appeal; Potential to add central‑air to increase rental appeal and income potential
