Three-Unit Property with Lower
For Sale
$1,200,000
197 Blue Hills Pkwy, Milton, MA 02186
Two occupied units complement a vacant first-floor residence suited to owner occupancy.
Property Size2,860 SF
Price / SF$419.58
Days on Market53
Property Features for 197 Blue Hills Pkwy
General Information
Standard status
Active
Size
2,860 SF
Property subtype
3 Family - 3 Units Up/Down
Units
Unit Mix
2 x 3BR, 1 x 1BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Building Details
Building Size
2,860 SF
Year Built
1910
Listing Agency:
Gibson Sotheby's International Realty
(617) 522-2200
Listed By:
Rogerio Rodriguez
(617) 504-0199
Source:
Iverty
Added: Sep 9
Changed: Oct 29
Last Checked: Oct 30 at 3:12PM
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 Gibson Sotheby's International Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1910 residential income property contains three units: two three-bedroom residences and one one-bedroom residence. The first floor is vacant and connects to a substantial lower level with room for additional bedrooms and a bathroom. The remaining two units are occupied, creating an owner-occupancy configuration with income-producing residences elsewhere in the property.
The property is located at 197 Blue Hills Pkwy in Milton, within the Milton Public Schools district. It sits next to Tucker School and between the Neponset bike path and the Blue Hills Reservation. Mattapan Station, local bus service, highway access, Churchill’s, trails, and neighborhood parks are all identified nearby.
The property is located at 197 Blue Hills Pkwy in Milton, within the Milton Public Schools district. It sits next to Tucker School and between the Neponset bike path and the Blue Hills Reservation. Mattapan Station, local bus service, highway access, Churchill’s, trails, and neighborhood parks are all identified nearby.
Key Highlights
- Three units: two 3‑bedroom residences and one 1‑bedroom residence
- First‑floor unit is vacant and connects to a lower level
- Lower level has room for additional bedrooms and a bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,232
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,024,640
$1.0M
Cap Rate 7%
$731,886
$731.9K
Cap Rate 9%
$569,244
$569.2K
Market Conditions
NOI Build-Up for 2,860 SF
Gross rent
$77.2K $27.00/SF
− Vacancy
−$4.0K −$1.41/SF
EGI
$73.2K $25.59/SF
− OpEx
−$22.0K −$7.68/SF
NOI
$51.2K $17.91/SF
Area
Norfolk County, MA
Vacancy
5.22%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,024,640
Cap Rate 7%
$731,886
Cap Rate 9%
$569,244
Alternative Uses
Best Use
Multifamily LT 5
$731.9K
$640.4K – $853.9K
NOI $51,232 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$675.3K
$590.9K – $787.8K
NOI $47,270 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$1.69M
$1.48M – $1.98M
NOI $118,518 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
370
Businesses Nearby
Explore this area
Business Placement
Demographics for 02186, MA
28,637
Population
9,447
Households
3
Avg Household Size
41
Median Age
70%
College-Educated
96%
High-School Grad
13.7 sq mi
ZIP Area
2,090
Density / Sq Mi
$177,222
Median Household Income
$83,510
Median Earnings
$1,545
Median Rent
$896,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Two occupied units complement a vacant first-floor residence suited to owner occupancy.
Where is this triplex located?
The property is located at 197 Blue Hills Pkwy Milton, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Three units: two 3‑bedroom residences and one 1‑bedroom residence; First‑floor unit is vacant and connects to a lower level; Lower level has room for additional bedrooms and a bathroom
