Multi-Story
New
For Sale
$599,000
23 Russell Park, Quincy, MA 02169
The interior has been stripped to the framing, with minimal demolition remaining before renovation work can begin.
Property Size2,816 SF
Lot Size0.13 Acres
Price / SF$212.71
Days on Market6
Property Features for 23 Russell Park
General Information
Standard status
Active
Size
2,816 SF
Lot size
0.13 Acres
Property subtype
2 Family - 2 Units Up/Down
Property Condition
Severity
Major Repairs Needed
Evidence
currently gutted to the studs
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3-Bedroom/1-Bathroom
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$8,743
Building Details
Building Size
2,816 SF
Year Built
1920
Buildings
1
Listing Agency:
Horvath & Tremblay
Listed By:
Jason Kulik · License #9554698
(781) 776-4000
Source:
Mgsgrouprealestate
Added: Oct 14
Changed: Oct 16
Last Checked: Oct 16 at 11:54AM
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 Horvath & Tremblay
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Investment Insights
Based on property information with market context.
This multi-story duplex was built in 1920 and contains 2,816 square feet of gross living area within 4,859 square feet of gross area. Its 0.13-acre parcel includes off-street parking. The building’s interior is stripped to the studs, with minimal demolition remaining, and the layout includes a 3-bedroom, 1-bathroom unit and an office. Zoning is RESA.
Located at 23 Russell Park in Quincy Center, the property is 0.1 miles from the MBTA’s Quincy Center Station. Hancock Street, Burgin Parkway, Newport Avenue, and Interstate 93 are also cited as nearby routes and connections.
Located at 23 Russell Park in Quincy Center, the property is 0.1 miles from the MBTA’s Quincy Center Station. Hancock Street, Burgin Parkway, Newport Avenue, and Interstate 93 are also cited as nearby routes and connections.
Key Highlights
- 2,816 square feet of gross living area and 4,859 square feet of gross area
- 3‑bedroom, 1‑bathroom unit plus office
- 0.13‑acre parcel with off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,551
Cap Rate
7.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$951,020
$951.0K
Cap Rate 7%
$679,300
$679.3K
Cap Rate 9%
$528,344
$528.3K
Market Conditions
NOI Build-Up for 2,816 SF
Gross rent
$72.7K $25.80/SF
− Vacancy
−$4.7K −$1.68/SF
EGI
$67.9K $24.12/SF
− OpEx
−$20.4K −$7.24/SF
NOI
$47.6K $16.89/SF
Area
Quincy, MA
Vacancy
6.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$951,020
Cap Rate 7%
$679,300
Cap Rate 9%
$528,344
Alternative Uses
Best Use
Multifamily LT 5
$679.3K
$594.4K – $792.5K
NOI $47,551 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$623.9K
$546.0K – $727.9K
NOI $43,676 @ 7.0% cap · market cap 7.29%
Theoretical Best
Office A
$1.66M
$1.46M – $1.94M
NOI $116,515 @ 7.0% cap · market cap 19.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,206
Businesses Nearby
Explore this area
Business Placement
Demographics for 02169, MA
62,140
Population
30,198
Households
2.1
Avg Household Size
39
Median Age
48%
College-Educated
92%
High-School Grad
12.1 sq mi
ZIP Area
5,136
Density / Sq Mi
$92,080
Median Household Income
$60,166
Median Earnings
$1,975
Median Rent
$552,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The interior has been stripped to the framing, with minimal demolition remaining before renovation work can begin.
Where is this duplex located?
The property is located at 23 Russell Park Quincy, MA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,816 square feet of gross living area and 4,859 square feet of gross area; 3‑bedroom, 1‑bathroom unit plus office; 0.13‑acre parcel with off‑street parking
