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Building Details

Building Size 3,459 SF

Year Built 1920

Stories 3

Listing Agency: REMAX Andrew Realty Services Show Phone

Listed By: Afonso Realty Group Show Phone

Source: Churchillprop

Added: May 14 Changed: Oct 6 Last Checked: Oct 14 at 9:12PM

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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 REMAX Andrew Realty Services

Investment Insights

Based on property information with market context.

Located in a sought-after beachside neighborhood of Revere, 1661 North Shore Rd is a renovated three-family property. Each unit features 3 bedrooms, updated kitchens and bathrooms, and modern finishes. The property has separate utilities. The property is located minutes from the MBTA Blue Line, providing access to Revere Beach and Beachmont stations for commuting to Downtown Boston. Route 1A and Logan Airport are also nearby. The neighborhood is known for its walkability, public transportation, and proximity to Revere Beach, along with restaurants, coffee shops, and retail options. The property is suitable for investors or owner-occupants seeking rental income potential.

Key Highlights

• Fully renovated three‑family property in a desirable beachside location.
• Strong rental income potential for investors or owner‑occupants.
• Each unit features 3 bedrooms, updated kitchens and bathrooms, and modern finishes.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$65,898

Cap Rate

5.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,317,960 $1.3M

Cap Rate 7%

$941,400 $941.4K

Cap Rate 9%

$732,200 $732.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,459 SF

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 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 (±1% cap)

NOI $65,898 @ 7.0% cap · market cap 5.07%

Second Best

Apartment 5plus

$858.4K

$751.1K – $1.00M (±1% cap)

NOI $60,087 @ 7.0% cap · market cap 4.62%

Theoretical Best

Office A

$2.05M

$1.79M – $2.39M (±1% cap)

NOI $143,340 @ 7.0% cap · market cap 11.03%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Gym & Fitness Center (Bike/Boat/Book/etc) Store Electrical Service Furniture & Home Goods Law Firm Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Fully renovated three-family property near Revere Beach with strong rental income.

Where is this triplex located?

The property is located at 1661 North 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 property in a desirable beachside location.; Strong rental income potential for investors or owner‑occupants.; Each unit features 3 bedrooms, updated kitchens and bathrooms, and modern finishes.