Three-Family Beachside Income
1661 North Shore Road Revere, MA 02151
For Sale
$1,299,900
Fully renovated three-family residence with separate utilities and updated kitchens and baths across spacious 3-bedroom units.
Property Size3,459 SF
Price / SF$375.80
Days on Market89
Property Features for 1661 North Shore Road
General Information
Standard status
Active
Size
3,459 SF
Property subtype
Multi-family
Building Details
Year Built
1920
Listing Agency:
REMAX Andrew Realty Services
(617) 447-9439
Listed By:
Afonso Realty Group
Source:
Elevatedboston
Added: May 2
Changed: Jul 27
Last Checked: Jul 27 at 11:08PM
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.
1661 North Shore Road is a fully renovated, well-maintained three-family property offering three spacious units. Each unit features 3 bedrooms with updated kitchens and bathrooms and modern finishes. The home is set up with separate utilities, supporting straightforward operations for residents and investors.
The property is described as being located in a beachside neighborhood with walkability and public transportation access. Residents have convenient access to the MBTA Blue Line, including nearby Beachmont and Revere Beach stations, along with access routes including Route 1A and Logan Airport.
This is a turnkey residential income asset designed to serve both investor and owner-occupant needs, with updated interior finishes throughout and a configuration that supports independent utility management for each unit.
The property is described as being located in a beachside neighborhood with walkability and public transportation access. Residents have convenient access to the MBTA Blue Line, including nearby Beachmont and Revere Beach stations, along with access routes including Route 1A and Logan Airport.
This is a turnkey residential income asset designed to serve both investor and owner-occupant needs, with updated interior finishes throughout and a configuration that supports independent utility management for each unit.
Key Highlights
- 1920‑built fully renovated three‑family property in Revere’s beachside neighborhood
- Three spacious 3‑bedroom units with updated kitchens and bathrooms
- Separate utilities for each unit
Financial Insights For Multifamily LT 5
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 | $99.6k | $28.80 |
| − Vacancy | −$5.5k | −$1.58 |
| EGI | $94.1k | $27.22 |
| − OpEx | −$28.2k | −$8.16 |
| NOI | $65.9k | $19.05 |
3,459 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
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
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Fully renovated three-family residence with separate utilities and updated kitchens and baths across spacious 3-bedroom units.
Where is this triplex located?
The property is located at 1661 North Shore Road 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: 1920‑built fully renovated three‑family property in Revere’s beachside neighborhood; Three spacious 3‑bedroom units with updated kitchens and bathrooms; Separate utilities for each unit
