Turnkey 3-Family Residential
For Sale
$1,549,000
177 Chestnut Avenue, Boston, MA 02130
Turnkey 3-family property offering a versatile live-in or income setup with five bedrooms across three units.
Property Size3,144 SF
Price / SF$492.68
Days on Market119
Property Features for 177 Chestnut Avenue
General Information
Standard status
Active
Size
3,144 SF
Property subtype
Multi-family
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Year Built
1905
Listing Agency:
Arborview Realty Inc.
Listed By:
Stephen Lussier · License #9065056
(617) 943-9500
Source:
Rosenrealty
Added: May 9
Changed: Sep 4
Last Checked: Sep 4 at 10:53AM
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 Arborview Realty Inc.
Investment Insights
Based on property information with market context.
This turnkey 3-family residential income property offers a flexible configuration with three 3-bedroom units and a total size of 3,144 square feet. The building is described as a 5/5/5 setup, providing a straightforward unit mix for owner-occupants or investors.
Located at 177 Chestnut Avenue in Boston, MA 02130, the property is described as minutes from City Feed, the Stony Brook T Stop, and the Southwest Corridor. It is presented as a potential fit for buyers pursuing a 1031 exchange, as well as for developers seeking a reliable asset in a sought-after area.
As presented, this is a turn-key asset with existing multi-unit residential income characteristics designed to support a variety of buyer objectives.
Located at 177 Chestnut Avenue in Boston, MA 02130, the property is described as minutes from City Feed, the Stony Brook T Stop, and the Southwest Corridor. It is presented as a potential fit for buyers pursuing a 1031 exchange, as well as for developers seeking a reliable asset in a sought-after area.
As presented, this is a turn-key asset with existing multi-unit residential income characteristics designed to support a variety of buyer objectives.
Key Highlights
- 1905‑built 3‑family property offering a live‑in and rental income setup
- 3,144 sq ft total building size
- Five bedrooms across three units
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
$79,447
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
5.13%
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%
$1,588,940
$1.6M
Cap Rate 7%
$1,134,957
$1.1M
Cap Rate 9%
$882,744
$882.7K
Market Conditions
NOI Build-Up for 3,144 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
$118.8K $37.80/SF
− Vacancy
−$5.3K −$1.70/SF
EGI
$113.5K $36.10/SF
− OpEx
−$34.0K −$10.83/SF
NOI
$79.4K $25.27/SF
Area
Boston, MA
Vacancy
4.50%
Lease Rate
$37.80 /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%
$1,588,940
Cap Rate 7%
$1,134,957
Cap Rate 9%
$882,744
Alternative Uses
Best Use
Multifamily LT 5
$1.13M
$993.1K – $1.32M
NOI $79,447 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$1.06M
$923.2K – $1.23M
NOI $73,859 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$2.35M
$2.06M – $2.75M
NOI $164,796 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,316
Businesses Nearby
Explore this area
Business Placement
Demographics for 02130, MA
38,284
Population
18,802
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
94%
High-School Grad
3.5 sq mi
ZIP Area
10,938
Density / Sq Mi
$130,533
Median Household Income
$73,238
Median Earnings
$2,434
Median Rent
$763,700
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 - Turnkey 3-family property offering a versatile live-in or income setup with five bedrooms across three units.
Where is this triplex located?
The property is located at 177 Chestnut Avenue Boston, MA.
What is the asking price?
The asking price for this property is $1,549,000.
What are key features of this property?
This property features: 1905‑built 3‑family property offering a live‑in and rental income setup; 3,144 sq ft total building size; Five bedrooms across three units
