Side-by-Side Two-Family Income
20-22 Highgate Street Boston, MA 02134
20-22 Highgate Street, Boston, MA, 02134
$2,549,000
For Sale
$2,549,000
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$508.78
Days on Market60
Property Features for 20-22 Highgate Street
General Information
- Standard status
- Active
- Size
- 5,010 SF
- Lot size
- 0.14 Acres
- Property subtype
- Multi-family
Building Details
- Year Built
- 1885
Listing agency
Coldwell Banker Realty - Boston
Listed by
Waypoint Realty Group
(781) 878-2478
Source
Trufantre
Added: May 24 Updated: Jul 21 at 7:21PM Checked: Jul 22 at 7:40AM
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
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
Local Financial Insights For Multifamily LT 5
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 | $189.4k | $37.80 |
| − Vacancy | −$8.5k | −$1.70 |
| EGI | $180.9k | $36.10 |
| − OpEx | −$54.3k | −$10.83 |
| NOI | $126.6k | $25.27 |
5,010 SF · lease $37.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.81M
$1.58M – $2.11M
NOI $126,599 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$1.68M
$1.47M – $1.96M
NOI $117,695 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$3.75M
$3.28M – $4.38M
NOI $262,604 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
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 Street Boston, MA.
What is the asking price?
The asking price for this property is $2,549,000.
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
