14-Unit Apartment
For Sale
$4,200,000
18 Fitzhenry Square, Revere, MA 02151
Separate electric metering and tenant-paid electric heat support straightforward utility allocation.
Property Size9,454 SF
Lot Size0.15 Acres
Price / SF$444.26
Days on Market73
Property Features for 18 Fitzhenry Square
General Information
Standard status
Active
Size
9,454 SF
Total Parking Spaces
4
Lot size
0.15 Acres
Property subtype
Multi-family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA, 12 x 1BR/1BA
Multifamily Units
14
Building Details
Year Built
1945
Listing Agency:
Horvath & Tremblay
Listed By:
Stephen Girolamo · License #9552229
(978) 406-1789
Source:
Benoitrealestate
Added: Jul 25
Changed: Sep 30
Last Checked: Oct 4 at 10:03AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This 14-unit apartment property at 18 Fitzhenry Sq includes two 2-bedroom/1-bathroom units and twelve 1-bedroom/1-bathroom units. The building provides 9,454 square feet of gross living area within 10,384 square feet of gross area, occupies a 0.15-acre parcel, and includes four off-street parking spaces. Built in 1945, the property is configured for residential income use with separately metered electricity and electric-powered heat paid by tenants. The landlord provides gas-powered hot water, common-area electricity, and city water and sewer.
The property is located in Revere near downtown, neighborhood retail corridors, and surrounding residential communities. It also has access to the Revere Beach area and the ongoing Waterfront Square redevelopment, described as a transit-oriented mixed-use district. Walk Score is 40, Bike Score is 51, and Transit Score is 62.
The property is located in Revere near downtown, neighborhood retail corridors, and surrounding residential communities. It also has access to the Revere Beach area and the ongoing Waterfront Square redevelopment, described as a transit-oriented mixed-use district. Walk Score is 40, Bike Score is 51, and Transit Score is 62.
Key Highlights
- 14 units: two 2‑bedroom/1‑bathroom units and twelve 1‑bedroom/1‑bathroom units
- 9,454 square feet of gross living area within 10,384 square feet of gross area
- 0.15‑acre parcel with four off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$164,227
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,284,540
$3.3M
Cap Rate 7%
$2,346,100
$2.3M
Cap Rate 9%
$1,824,744
$1.8M
Market Conditions
NOI Build-Up for 9,454 SF
Gross rent
$317.7K $33.60/SF
− Vacancy
−$19.1K −$2.02/SF
EGI
$298.6K $31.58/SF
− OpEx
−$134.4K −$14.21/SF
NOI
$164.2K $17.37/SF
Area
Suffolk County, MA
Vacancy
6.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,284,540
Cap Rate 7%
$2,346,100
Cap Rate 9%
$1,824,744
Alternative Uses
Best Use
Apartment 5plus
$2.35M
$2.05M – $2.74M
NOI $164,227 @ 7.0% cap · market cap 3.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.60M
$4.90M – $6.53M
NOI $391,771 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
846
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Separate electric metering and tenant-paid electric heat support straightforward utility allocation.
Where is this apartment building located?
The property is located at 18 Fitzhenry Square Revere, MA.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: 14 units: two 2‑bedroom/1‑bathroom units and twelve 1‑bedroom/1‑bathroom units; 9,454 square feet of gross living area within 10,384 square feet of gross area; 0.15‑acre parcel with four off‑street parking spaces
