3-Unit Residential
New
For Sale
$1,195,000
21 Conway Street, Boston, MA 02131
Three floors each contain a separate residence, with five bedrooms and three full bathrooms across the units.
Property Size2,986 SF
Price / SF$400.20
Days on Market5
Property Features for 21 Conway Street
General Information
Standard status
Active
Size
2,986 SF
Property subtype
Multi-family
Occupancy
100%
Site & Location
Neighborhood
Roslindale
Public Transit
Yes
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Amenities
laundry
studio
back yard
patio
Building Details
Year Built
1900
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
William Raveis R.E. & Home Services
Listed By:
Gore Lietzke Group
(617) 964-1850
Source:
Jmulkerinrealty
Added: Oct 27
Changed: Oct 30
Last Checked: Oct 30 at 1:47PM
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 William Raveis R.E. & Home Services
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Investment Insights
Based on property information with market context.
This 3-unit residential property has one residence on each of its three floors, with five bedrooms and three full bathrooms in total. The units have open kitchens; the first and second include heat pumps for heating and cooling installed in 2025, while the third has skylights. Architectural details include stained glass, French doors, mantels, built-ins, and hardwood floors. A partially finished basement provides a half bath, laundry, workspace, and storage. The former garage has been converted to a studio, and the property also includes a backyard patio and driveway parking for 2–3 cars.
The property is in Peter's Hill, between the 265-acre Arnold Arboretum and Roslindale Village. Shops, restaurants, a farmers market, parks, a community center, a library, commuter rail, and buses are described as nearby. All three units are occupied, with leases and TAW.
The property is in Peter's Hill, between the 265-acre Arnold Arboretum and Roslindale Village. Shops, restaurants, a farmers market, parks, a community center, a library, commuter rail, and buses are described as nearby. All three units are occupied, with leases and TAW.
Key Highlights
- Three residences arranged one per floor; 5 bedrooms and 3 full baths total
- Heat pumps for heating and cooling in Units 1 and 2, installed in 2025
- Partially finished basement with half bath, laundry, workspace, and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,454
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,509,080
$1.5M
Cap Rate 7%
$1,077,914
$1.1M
Cap Rate 9%
$838,378
$838.4K
Market Conditions
NOI Build-Up for 2,986 SF
Gross rent
$112.9K $37.80/SF
− Vacancy
−$5.1K −$1.70/SF
EGI
$107.8K $36.10/SF
− OpEx
−$32.3K −$10.83/SF
NOI
$75.5K $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%
$1,509,080
Cap Rate 7%
$1,077,914
Cap Rate 9%
$838,378
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$943.2K – $1.26M
NOI $75,454 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$1.00M
$876.8K – $1.17M
NOI $70,147 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$2.24M
$1.96M – $2.61M
NOI $156,514 @ 7.0% cap · market cap 13.10%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,226
Businesses Nearby
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Business Placement
Demographics for 02131, MA
30,544
Population
13,264
Households
2.3
Avg Household Size
39
Median Age
52%
College-Educated
89%
High-School Grad
2.8 sq mi
ZIP Area
10,909
Density / Sq Mi
$109,237
Median Household Income
$65,268
Median Earnings
$1,999
Median Rent
$634,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three floors each contain a separate residence, with five bedrooms and three full bathrooms across the units.
Where is this triplex located?
The property is located at 21 Conway Street Boston, MA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: Three residences arranged one per floor; 5 bedrooms and 3 full baths total; Heat pumps for heating and cooling in Units 1 and 2, installed in 2025; Partially finished basement with half bath, laundry, workspace, and storage
