Renovated Multifamily
For Sale
$2,050,000
19 Pleasant St, Boston, MA 02125
Fully leased Boston multifamily property with updated interiors, private decks, central HVAC, and off-street parking.
Property Size3,957 SF
Days on Market10
Property Features for 19 Pleasant St
General Information
Standard status
Active
Size
3,957 SF
Total Parking Spaces
4
Property subtype
Investment
Occupancy
100%
Financials
Cap Rate
6.44%
Gross Income
$163,800
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$23,436
Amenities
granite countertops
stainless steel appliances
central HVAC
hardwood floors
updated kitchens and baths
gas fireplaces in select units
oversized private decks
Building Details
Building Size
3,957 SF
Year Built
1905
Buildings
1
Stories
4
Units
3
Construction
Victorian
Listing Agency:
Compass
(617) 942-1609
Listed By:
Mission Realty Advisors
(617) 942-1609
Source:
Elliman
Added: Aug 13
Changed: Aug 17
Last Checked: Aug 21 at 12:38PM
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 Compass
Investment Insights
Based on property information with market context.
Built in 1905 and renovated approximately 10 years ago, this fully leased multifamily property includes 12 bedrooms, 3 full bathrooms, 3 half bathrooms, and 4 off-street parking spaces. Interior features include granite countertops, stainless steel appliances, central HVAC, hardwood floors, updated kitchens and baths, gas fireplaces in select units, and oversized private decks. The property generates rental income and is offered at a 6.44 cap rate.
The property is located at 19 Pleasant St in Boston’s Savin Hill area, with access to the Savin Hill and JFK/UMass Red Line stations, UMass Boston, South Bay, Columbia Point, beaches, and downtown Boston. Nearby development includes South Bay’s mixed-use housing, restaurant, retail, and entertainment offerings, along with planned growth near Columbia Point and the Morrissey Boulevard corridor.
The property is located at 19 Pleasant St in Boston’s Savin Hill area, with access to the Savin Hill and JFK/UMass Red Line stations, UMass Boston, South Bay, Columbia Point, beaches, and downtown Boston. Nearby development includes South Bay’s mixed-use housing, restaurant, retail, and entertainment offerings, along with planned growth near Columbia Point and the Morrissey Boulevard corridor.
Key Highlights
- 12 bedrooms with 3 full bathrooms and 3 half bathrooms
- Fully leased multifamily property with a 6.44 Cap Rate
- Renovated approximately 10 years ago
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
$92,958
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
4.53%
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%
$1,859,160
$1.9M
Cap Rate 7%
$1,327,971
$1.3M
Cap Rate 9%
$1,032,867
$1.0M
Market Conditions
NOI Build-Up for 3,957 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
$175.7K $44.40/SF
− Vacancy
−$6.7K −$1.69/SF
EGI
$169.0K $42.71/SF
− OpEx
−$76.1K −$19.22/SF
NOI
$93.0K $23.49/SF
Area
Boston, MA
Vacancy
3.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
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%
$1,859,160
Cap Rate 7%
$1,327,971
Cap Rate 9%
$1,032,867
Alternative Uses
Best Use
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $92,958 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.96M
$2.59M – $3.46M
NOI $207,410 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,563
Businesses Nearby
Explore this area
Business Placement
Demographics for 02125, MA
34,926
Population
14,999
Households
2.3
Avg Household Size
32
Median Age
42%
College-Educated
87%
High-School Grad
2.2 sq mi
ZIP Area
15,875
Density / Sq Mi
$71,810
Median Household Income
$52,106
Median Earnings
$1,897
Median Rent
$645,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Fully leased Boston multifamily property with updated interiors, private decks, central HVAC, and off-street parking.
Where is this multifamily property located?
The property is located at 19 Pleasant St Boston, MA.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: 12 bedrooms with 3 full bathrooms and 3 half bathrooms; Fully leased multifamily property with a 6.44 Cap Rate; Renovated approximately 10 years ago
