Renovated 6-Unit Apartment
New
For Sale
$2,300,000
20-22 Rockville Park, Boston, MA 02119
MULTI_FAMILY - Boston, MA
Property Size4,296 SF
Lot Size0.13 Acres
Price / SF$535.38
Days on Market1
Property Features for 20-22 Rockville Park
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
11
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 10, Bedroom 2, Bedroom 6, Bathroom 5, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 1, Bedroom 9, Bedroom 3, Bedroom 4, Bathroom 6, Bedroom 7, Bedroom 5, Bedroom 11, Bedroom 8, Bathroom 3
Parking
10
Directions
Warren Street to Rockville Park
Subdivision
Roxbury
Standard status
Active
Size
4,296 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15263
Building Details
Year built
1910
Floors in Building
5
Number of units
6
Listing Agency:
REMAX Andrew Realty Services · RE/MAX International
(781) 395-7676
Listed By:
John Veneziano
(781) 395-7676
Added: Aug 13
Last Checked: Aug 13 at 9:06AM
MLS# 73563111
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This apartment property combines two semi-detached three-family homes conveyed on separate deeds. Together, the buildings contain 6 units and 4,296 square feet, with 10 parking spaces on a 0.1348-acre parcel. The improvements were gut-renovated in 2021 and 2025, including updated kitchens with stainless appliances, recessed lighting, plumbing, and electrical systems. Four units are de-leaded, and the property carries R3 zoning.
Built in 1910, the homes are positioned on a dead-end street in Boston near Northeastern University, the Longwood Medical Area, and the South End. The six-unit configuration, separate deeds, residential financing eligibility, and parking supply provide a clearly defined multifamily asset with updated building systems.
Built in 1910, the homes are positioned on a dead-end street in Boston near Northeastern University, the Longwood Medical Area, and the South End. The six-unit configuration, separate deeds, residential financing eligibility, and parking supply provide a clearly defined multifamily asset with updated building systems.
Key Highlights
- 6‑unit multifamily property comprising two semi‑detached three‑family homes
- 4,296 square feet on a 0.1348‑acre parcel
- Gut renovations completed in 2021 and 2025
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
$100,922
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
4.39%
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%
$2,018,440
$2.0M
Cap Rate 7%
$1,441,743
$1.4M
Cap Rate 9%
$1,121,356
$1.1M
Market Conditions
NOI Build-Up for 4,296 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
$190.7K $44.40/SF
− Vacancy
−$7.2K −$1.69/SF
EGI
$183.5K $42.71/SF
− OpEx
−$82.6K −$19.22/SF
NOI
$100.9K $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%
$2,018,440
Cap Rate 7%
$1,441,743
Cap Rate 9%
$1,121,356
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,922 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.22M
$2.81M – $3.75M
NOI $225,179 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,897
Businesses Nearby
Explore this area
Business Placement
Demographics for 02119, MA
29,175
Population
12,937
Households
2.3
Avg Household Size
34
Median Age
30%
College-Educated
81%
High-School Grad
1.6 sq mi
ZIP Area
18,234
Density / Sq Mi
$43,255
Median Household Income
$38,664
Median Earnings
$1,252
Median Rent
$668,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Two semi-detached buildings offer updated residential units with on-site parking.
Where is this apartment building located?
The property is located at 20-22 Rockville Park Boston, MA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 6‑unit multifamily property comprising two semi‑detached three‑family homes; 4,296 square feet on a 0.1348‑acre parcel; Gut renovations completed in 2021 and 2025
