Side-by-Side Two-Family Income
For Sale
$2,400,000
20-22 Highgate St, Boston, MA 02134
Two leased units with 16 bedrooms, 6 baths, a large high-ceiling basement, and six off-street parking spaces.
Property Size5,010 SF
Lot Size0.14 Acres
Price / SF$479.04
Days on Market141
Property Features for 20-22 Highgate St
General Information
Standard status
Active
Size
5,010 SF
Total Parking Spaces
6
Lot size
0.14 Acres
Property subtype
Multi-Family
Zoning
R2
Occupancy
100%
Net Operating Income
$144,944
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$23,972
Building Details
Building Size
5,010 SF
Year Built
1885
Stories
6
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty - Boston
(617) 242-0025
Listed By:
Waypoint Realty Group
(339) 234-0747
Source:
Churchillprop
Added: Jun 3
Changed: Oct 6
Last Checked: Oct 20 at 6:28PM
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 Coldwell Banker Realty - Boston
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Investment Insights
Based on property information with market context.
This side-by-side two-family (units 20 and 22) is offered as a value-add and redevelopment opportunity. The property provides a total of 16 bedrooms and 6 bathrooms across both units, supported by a large basement described as having exceptional ceiling height. Six off-street parking spaces are available. All utilities are tenant paid.
The asset is positioned steps from Boston University, the Green Line, Barry’s Corner, and Harvard’s Enterprise Research Campus, with multiple nearby long-term development efforts referenced in the offering. The remarks also cite the $2B Allston Multimodal Project and Harvard’s planned 358-acre expansion.
Unit 20 is leased at $10,400 per month and Unit 22 is leased at $6,583 per month, with prior MLS rental history cited in support of potential upside. A pro forma is available upon request.
The asset is positioned steps from Boston University, the Green Line, Barry’s Corner, and Harvard’s Enterprise Research Campus, with multiple nearby long-term development efforts referenced in the offering. The remarks also cite the $2B Allston Multimodal Project and Harvard’s planned 358-acre expansion.
Unit 20 is leased at $10,400 per month and Unit 22 is leased at $6,583 per month, with prior MLS rental history cited in support of potential upside. A pro forma is available upon request.
Key Highlights
- Side‑by‑side two‑family property built in 1885 on a 5,951 SF R2 lot
- 16 bedrooms and 6 baths across two leased units
- Large basement with exceptional ceiling height
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$126,599
Cap Rate
5.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,531,980
$2.5M
Cap Rate 7%
$1,808,557
$1.8M
Cap Rate 9%
$1,406,656
$1.4M
Market Conditions
NOI Build-Up for 5,010 SF
Gross rent
$189.4K $37.80/SF
− Vacancy
−$8.5K −$1.70/SF
EGI
$180.9K $36.10/SF
− OpEx
−$54.3K −$10.83/SF
NOI
$126.6K $25.27/SF
Area
Boston, MA
Vacancy
4.50%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,531,980
Cap Rate 7%
$1,808,557
Cap Rate 9%
$1,406,656
Alternative Uses
Best Use
Multifamily LT 5
$1.81M
$1.58M – $2.11M
NOI $126,599 @ 7.0% cap · market cap 5.27%
Second Best
Apartment 5plus
$1.68M
$1.47M – $1.96M
NOI $117,695 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$3.75M
$3.28M – $4.38M
NOI $262,604 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,821
Businesses Nearby
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Business Placement
Demographics for 02134, MA
21,707
Population
9,027
Households
2.4
Avg Household Size
27
Median Age
76%
College-Educated
96%
High-School Grad
1.2 sq mi
ZIP Area
18,089
Density / Sq Mi
$75,317
Median Household Income
$49,275
Median Earnings
$2,269
Median Rent
$586,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two leased units with 16 bedrooms, 6 baths, a large high-ceiling basement, and six off-street parking spaces.
Where is this duplex located?
The property is located at 20-22 Highgate St Boston, MA.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: Side‑by‑side two‑family property built in 1885 on a 5,951 SF R2 lot; 16 bedrooms and 6 baths across two leased units; Large basement with exceptional ceiling height
