Renovated Triplex with Separate
For Sale
$1,299,900
1661 N Shore Rd, Revere, MA 02151
Residential Income, Revere, MA
Property Size3,459 SF
Lot Size0.07 Acres
Price / SF$375.80
Days on Market100
Property Features for 1661 N Shore Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 8, Bathroom 2, Bedroom 6, Bedroom 2, Bedroom 9, Bedroom 3, Bedroom 7, Bedroom 5, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 1
Elementary school
Garfield
Middle school
Garfield
High school
Revere High School
Directions
Winthrop Ave to North Shore Rd
Standard status
Active
APN
1367374
Size
3,459 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8163
Building Details
Year built
1920
Floors in Building
3
Number of units
3
Listing Agency:
REMAX Andrew Realty Services · RE/MAX International
(781) 395-7676
Listed By:
John Veneziano
(781) 395-7676
Added: May 13
Changed: Aug 19
Last Checked: Aug 20 at 9:06AM
MLS# 73518556
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully renovated three-family (triplex) property is a well-maintained, income-focused building featuring updated kitchens and bathrooms in each unit, along with three bedrooms per unit. The property also offers separate utilities for the units, which can support straightforward tenant management and flexibility for occupants.
The building sits on a 0.0674-acre lot and was built in 1920. It is located at 1661 N Shore Rd in Revere, MA, within reach of MBTA Blue Line service and convenient access to Route 1A and Logan Airport.
The overall configuration supports a three-unit residential income use under RB zoning, with the existing unit layout already updated for live-in or investment objectives.
The building sits on a 0.0674-acre lot and was built in 1920. It is located at 1661 N Shore Rd in Revere, MA, within reach of MBTA Blue Line service and convenient access to Route 1A and Logan Airport.
The overall configuration supports a three-unit residential income use under RB zoning, with the existing unit layout already updated for live-in or investment objectives.
Key Highlights
- Fully renovated three‑family (triplex) building with updated kitchens and bathrooms
- Three bedrooms per unit, with each unit having separate utilities
- RB zoning
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
$65,898
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
5.07%
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%
$1,317,960
$1.3M
Cap Rate 7%
$941,400
$941.4K
Cap Rate 9%
$732,200
$732.2K
Market Conditions
NOI Build-Up for 3,459 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
$99.6K $28.80/SF
− Vacancy
−$5.5K −$1.58/SF
EGI
$94.1K $27.22/SF
− OpEx
−$28.2K −$8.16/SF
NOI
$65.9K $19.05/SF
Area
Suffolk County, MA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,317,960
Cap Rate 7%
$941,400
Cap Rate 9%
$732,200
Alternative Uses
Best Use
Multifamily LT 5
$941.4K
$823.7K – $1.10M
NOI $65,898 @ 7.0% cap · market cap 5.07%
Second Best
Apartment 5plus
$858.4K
$751.1K – $1.00M
NOI $60,087 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$2.05M
$1.79M – $2.39M
NOI $143,340 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
Explore this area
Business Placement
Demographics for 02151, MA
62,252
Population
23,461
Households
2.7
Avg Household Size
38
Median Age
25%
College-Educated
83%
High-School Grad
5.7 sq mi
ZIP Area
10,921
Density / Sq Mi
$80,948
Median Household Income
$43,374
Median Earnings
$1,964
Median Rent
$566,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Fully renovated three-family home on RB-zoned land with separate utilities for each unit.
Where is this triplex located?
The property is located at 1661 N Shore Rd Revere, MA.
What is the asking price?
The asking price for this property is $1,299,900.
What are key features of this property?
This property features: Fully renovated three‑family (triplex) building with updated kitchens and bathrooms; Three bedrooms per unit, with each unit having separate utilities; RB zoning
