Renovated Victorian Multifamily
For Sale
$2,050,000
19 Pleasant Street, Boston, MA 02125
Fully leased Boston multifamily building with updated interiors, private decks, and off-street parking near major institutions and transit.
Property Size3,957 SF
Price / SF$518.07
Days on Market14
Property Features for 19 Pleasant Street
General Information
Standard status
Active
Size
3,957 SF
Total Parking Spaces
4
Property subtype
Multi-family
Occupancy
100%
Financials
Cap Rate
6.44%
Gross Income
$163,800
Additional Details
Public Transit
Yes
Amenities
granite countertops
stainless steel appliances
central HVAC
hardwood floors
updated kitchens and baths
gas fireplaces
private decks
Building Details
Year Built
1905
Buildings
1
Construction
Victorian
Listing Agency:
Compass
Listed By:
Mission Realty Advisors
(781) 878-2478
Source:
Trufantre
Added: Aug 8
Changed: Aug 21
Last Checked: Aug 21 at 11:20AM
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.
This 1905 Boston Victorian multifamily building includes 12 bedrooms, 3 full bathrooms, 3 half bathrooms, and 4 off-street parking spaces. Renovated approximately 10 years ago, the property features hardwood floors, updated kitchens and baths, granite countertops, stainless steel appliances, Central HVAC, and gas fireplaces in select units. Oversized private decks add outdoor space to the residential layout, and the building is fully leased.
The property is located in Savin Hill near the Savin Hill and JFK/UMass Red Line stations, UMass Boston, South Bay, Columbia Point, beaches, and downtown Boston. Nearby South Bay includes housing, restaurants, retail, and entertainment, while additional development is planned along the Morrissey Boulevard corridor.
The combination of renovated building systems and interiors, multiple bedrooms and bathrooms, on-site parking, and proximity to transit and area institutions defines the asset’s current configuration.
The property is located in Savin Hill near the Savin Hill and JFK/UMass Red Line stations, UMass Boston, South Bay, Columbia Point, beaches, and downtown Boston. Nearby South Bay includes housing, restaurants, retail, and entertainment, while additional development is planned along the Morrissey Boulevard corridor.
The combination of renovated building systems and interiors, multiple bedrooms and bathrooms, on-site parking, and proximity to transit and area institutions defines the asset’s current configuration.
Key Highlights
- 12 bedrooms, 3 full bathrooms, and 3 half bathrooms
- 4 off‑street parking spaces
- 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
1,895
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 building with updated interiors, private decks, and off-street parking near major institutions and transit.
Where is this multifamily property located?
The property is located at 19 Pleasant Street 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, 3 full bathrooms, and 3 half bathrooms; 4 off‑street parking spaces; Renovated approximately 10 years ago
