Multifamily Property with Expansion
1653 Dorchester Ave, Boston, MA 02122
For Sale
$1,149,900
Existing residential improvements sit on a sizable parcel near shopping, dining, public transportation, and commuter routes.
Property Size3,330 SF
Lot Size0.21 Acres
Price / SF$345.32
Days on Market10
Property Features for 1653 Dorchester Ave
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Public Transit
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
The Firm
Listed By:
Nicholas Molchan
(617) 828-4978
Source:
Mgsgrouprealestate
Added: Nov 5
Changed: Nov 11
Last Checked: Nov 12 at 6:46PM
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 The Firm
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The multifamily property contains approximately 3,330 square feet, with 8 bedrooms and 3.5 bathrooms, on a 9,148-square-foot lot. Built in 1865, the property has architectural plans commissioned to study a potential expansion into two triple-decker buildings; any development would require applicable zoning and permitting approvals. The current owner has not lived at the property and has limited firsthand information about its condition.
The property is on Dorchester Ave in Boston, near shopping, restaurants, public transportation, and major commuter routes.
The property is on Dorchester Ave in Boston, near shopping, restaurants, public transportation, and major commuter routes.
Key Highlights
- Approximately 3,330 square feet with 8 bedrooms and 3.5 bathrooms
- 9,148‑square‑foot lot
- Architectural plans explored expansion into two triple‑decker buildings, subject to zoning and permitting approvals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,228
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,564,560
$1.6M
Cap Rate 7%
$1,117,543
$1.1M
Cap Rate 9%
$869,200
$869.2K
Market Conditions
NOI Build-Up for 3,330 SF
Gross rent
$147.9K $44.40/SF
− Vacancy
−$5.6K −$1.69/SF
EGI
$142.2K $42.71/SF
− OpEx
−$64.0K −$19.22/SF
NOI
$78.2K $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 Rate 5%
$1,564,560
Cap Rate 7%
$1,117,543
Cap Rate 9%
$869,200
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$977.9K – $1.30M
NOI $78,228 @ 7.0% cap · market cap 6.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.49M
$2.18M – $2.91M
NOI $174,545 @ 7.0% cap · market cap 15.18%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
1,981
Businesses Nearby
Explore this area
Business Placement
Demographics for 02122, MA
24,385
Population
10,039
Households
2.4
Avg Household Size
35
Median Age
38%
College-Educated
81%
High-School Grad
1.7 sq mi
ZIP Area
14,344
Density / Sq Mi
$82,945
Median Household Income
$53,897
Median Earnings
$2,052
Median Rent
$656,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Multifamily properties in Boston, MA
Properties on Market for Multifamily properties in Boston
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Existing residential improvements sit on a sizable parcel near shopping, dining, public transportation, and commuter routes.
Where is this multifamily property located?
The property is located at 1653 Dorchester Ave Boston, MA.
What is the asking price?
The asking price for this property is $1,149,900.
What are key features of this property?
This property features: Approximately 3,330 square feet with 8 bedrooms and 3.5 bathrooms; 9,148‑square‑foot lot; Architectural plans explored expansion into two triple‑decker buildings, subject to zoning and permitting approvals
