Brick Mixed-Use Multifamily
2 Derne Street Boston, MA 02114
2 Derne Street, Boston, MA, 02114
$3,299,000
For Sale
$3,299,000
Six-unit brick building includes five occupied one-bedroom apartments and one ground-floor commercial unit offered vacant.
Property Size3,750 SF
Price / SF$879.73
Days on Market16
Property Features for 2 Derne Street
General Information
- Standard status
- Active
- Size
- 3,750 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1899
Listing agency
Boston Realty Advisors
Listed by
Daniel Alper
(781) 233-1401
Source
Littlefieldre
Added: Jul 6 Updated: Jul 20 at 11:40PM Checked: Jul 21 at 9:09AM
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 Boston Realty Advisors
Investment Insights
Based on property information with market context.
This brick mixed-use building consists of six units total, with five one-bedroom residential apartments and one ground-floor commercial space. The residential units are described as well-renovated and are fully occupied on annual leases, supporting stabilized in-place income. The ground-floor commercial unit, identified as 45-B Bowdoin Street, is currently offered vacant to support leasing, repositioning, or potential owner-occupancy.
The property is located directly across from the Massachusetts State House and is described as in a trophy Beacon Hill setting, with proximity to Boston Common and Charles Street’s shops and restaurants. Additional nearby access is described to MGH, Downtown Boston, and the Financial District, along with immediate access to MBTA Red and Green Line service.
The offering combines classic Beacon Hill architecture with both occupied residential income and a separately offered commercial unit for added flexibility.
The property is located directly across from the Massachusetts State House and is described as in a trophy Beacon Hill setting, with proximity to Boston Common and Charles Street’s shops and restaurants. Additional nearby access is described to MGH, Downtown Boston, and the Financial District, along with immediate access to MBTA Red and Green Line service.
The offering combines classic Beacon Hill architecture with both occupied residential income and a separately offered commercial unit for added flexibility.
Key Highlights
- Six‑unit brick multifamily building with 5 occupied 1‑bedroom apartments on annual leases
- All 5 apartments are fully occupied, providing stabilized in‑place income
- Includes 1 ground‑floor commercial unit (45‑B Bowdoin Street) offered vacant for leasing or owner‑occupy
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $180.0k | $48.00 |
| − Vacancy | −$6.8k | −$1.82 |
| EGI | $173.2k | $46.18 |
| − OpEx | −$77.9k | −$20.78 |
| NOI | $95.2k | $25.40 |
3,750 SF · lease $48.00/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,238 @ 7.0% cap · market cap 2.89%
Second Best
Retail
$1.15M
$1.01M – $1.35M
NOI $80,703 @ 7.0% cap · market cap 2.45%
Theoretical Best
Office A
$1.95M
$1.71M – $2.28M
NOI $136,566 @ 7.0% cap · market cap 4.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Six-unit brick building includes five occupied one-bedroom apartments and one ground-floor commercial unit offered vacant.
Where is this apartment building located?
The property is located at 2 Derne Street Boston, MA.
What is the asking price?
The asking price for this property is $3,299,000.
What are key features of this property?
This property features: Six‑unit brick multifamily building with 5 occupied 1‑bedroom apartments on annual leases; All 5 apartments are fully occupied, providing stabilized in‑place income; Includes 1 ground‑floor commercial unit (45‑B Bowdoin Street) offered vacant for leasing or owner‑occupy
