8-Unit Apartment
For Sale
$4,600,000
2 Humboldt Place, Boston, MA 02127
Residential apartment asset with shared roof decks, private laundry, central air conditioning, and contemporary interior finishes.
Property Size6,957 SF
Price / SF$661.20
Days on Market145
Property Features for 2 Humboldt Place
General Information
Standard status
Active
Size
6,957 SF
Property subtype
Multi-family / 5-9 Family
Zoning
A
Net Operating Income
$192,600
Additional Details
Public Transit
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$25,607
Amenities
common roof decks
in-unit laundry
central A/C
City/Town Sewer, Public
No
10.0
8
2
9.00
10
Rubber
1/2 to 1 Mile To Beach
Building Details
Year Built
2015
Buildings
1
Listing Agency:
Compass
Listed By:
The Shahani Group · License #BK3153120
(617) 216-1493
Source:
Compass
Added: Apr 13
Changed: Sep 2
Last Checked: Aug 30 at 10:34PM
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 8-unit apartment building at 2 Humboldt Place was completed in 2015 and contains 6,957 SF of residential space. The apartments feature open layouts, stainless steel appliances, granite countertops, modern tile and bathroom fixtures, hardwood flooring, high ceilings, abundant natural light, in-unit laundry, and central A/C. Residents also have access to two common roof decks with Boston skyline views. Property management is in place, and the property is zoned A.
The building is located next to the Red Line station at Andrew Square, with access to South Boston destinations including Washington Village, West Broadway restaurants, South Bay Cafe, Park City, and Cannon Ball. Downtown Boston and Logan Airport are also within convenient commuting range.
The building is located next to the Red Line station at Andrew Square, with access to South Boston destinations including Washington Village, West Broadway restaurants, South Bay Cafe, Park City, and Cannon Ball. Downtown Boston and Logan Airport are also within convenient commuting range.
Key Highlights
- 8‑unit apartment building with 6,957 SF, completed in 2015
- Two common roof decks with Boston skyline views
- All apartments feature in‑unit laundry and central A/C
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
$163,434
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
3.55%
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%
$3,268,680
$3.3M
Cap Rate 7%
$2,334,771
$2.3M
Cap Rate 9%
$1,815,933
$1.8M
Market Conditions
NOI Build-Up for 6,957 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
$308.9K $44.40/SF
− Vacancy
−$11.7K −$1.69/SF
EGI
$297.2K $42.71/SF
− OpEx
−$133.7K −$19.22/SF
NOI
$163.4K $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%
$3,268,680
Cap Rate 7%
$2,334,771
Cap Rate 9%
$1,815,933
Alternative Uses
Best Use
Apartment 5plus
$2.33M
$2.04M – $2.72M
NOI $163,434 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.21M
$4.56M – $6.08M
NOI $364,658 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
2,068
Businesses Nearby
Explore this area
Business Placement
Demographics for 02127, MA
37,939
Population
19,495
Households
1.9
Avg Household Size
31
Median Age
69%
College-Educated
95%
High-School Grad
2.1 sq mi
ZIP Area
18,066
Density / Sq Mi
$156,373
Median Household Income
$85,444
Median Earnings
$2,435
Median Rent
$858,600
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?
Apartment building - Residential apartment asset with shared roof decks, private laundry, central air conditioning, and contemporary interior finishes.
Where is this apartment building located?
The property is located at 2 Humboldt Place Boston, MA.
What is the asking price?
The asking price for this property is $4,600,000.
What are key features of this property?
This property features: 8‑unit apartment building with 6,957 SF, completed in 2015; Two common roof decks with Boston skyline views; All apartments feature in‑unit laundry and central A/C
