Three-Unit
For Sale
$1,199,900
Pending
23 Santuit St, Boston, MA 02124
Residential Income, Boston, MA
Property Size3,360 SF
Lot Size0.08 Acres
Days on Market48
Property Features for 23 Santuit St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 5, Bedroom 6, Bathroom 1, Bedroom 4, Bedroom 7, Bathroom 2, Bedroom 2, Bedroom 8
Directions
Dorchester Ave to Welles Ave to Santuit St (one way street).
Subdivision
Dorchester
Standard status
Pending
APN
1306049
Size
3,360 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10834
Amenities
hardwood flooring
vinyl replacement windows
separate utilities
gas heating & cooking
laundry connection in basement
finished basement
Building Details
Year built
1905
Floors in Building
3
Number of units
3
Listing Agency:
Keller Williams Realty
(508) 238-5000
Listed By:
Scott Morris
(508) 238-5000
Added: Jul 9
Changed: Aug 19
Last Checked: Aug 25 at 7:06AM
MLS# 73547563
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 three-unit, triple-decker multifamily property contains 3,360 square feet on a 0.0785-acre parcel and was built in 1905. Each apartment includes 5 rooms with a living room, kitchen, bathroom, and space for 3 bedrooms; the first-floor layout requires a wall to create the third bedroom. Hardwood floors, some vinyl replacement windows, separate utilities, and gas heating and cooking serve the units.
The basement is finished and provides storage space, with a laundry connection and an updated PVC sewer waste line. The property is zoned R3 and is located at 23 Santuit St in Boston, within close walking distance of the Shawmut and Ashmont T-stations, Pope John Paul Academy, Saint Marks Church, Via Cannuccia, a park, and restaurants. The sale is offered in as-is condition.
The basement is finished and provides storage space, with a laundry connection and an updated PVC sewer waste line. The property is zoned R3 and is located at 23 Santuit St in Boston, within close walking distance of the Shawmut and Ashmont T-stations, Pope John Paul Academy, Saint Marks Church, Via Cannuccia, a park, and restaurants. The sale is offered in as-is condition.
Key Highlights
- Three‑unit property with 3,360 square feet on a 0.0785‑acre parcel
- Each unit has 5 rooms and space for 3 bedrooms; first floor needs a wall for the third bedroom
- Finished basement with storage space and laundry connection
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
$84,905
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
7.08%
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%
$1,698,100
$1.7M
Cap Rate 7%
$1,212,929
$1.2M
Cap Rate 9%
$943,389
$943.4K
Market Conditions
NOI Build-Up for 3,360 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
$127.0K $37.80/SF
− Vacancy
−$5.7K −$1.70/SF
EGI
$121.3K $36.10/SF
− OpEx
−$36.4K −$10.83/SF
NOI
$84.9K $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 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%
$1,698,100
Cap Rate 7%
$1,212,929
Cap Rate 9%
$943,389
Alternative Uses
Best Use
Multifamily LT 5
$1.21M
$1.06M – $1.42M
NOI $84,905 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$1.13M
$986.7K – $1.32M
NOI $78,933 @ 7.0% cap · market cap 6.58%
Theoretical Best
Office A
$2.52M
$2.20M – $2.94M
NOI $176,118 @ 7.0% cap · market cap 14.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,830
Businesses Nearby
Explore this area
Business Placement
Demographics for 02124, MA
50,972
Population
21,264
Households
2.4
Avg Household Size
36
Median Age
31%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
16,991
Density / Sq Mi
$79,168
Median Household Income
$43,483
Median Earnings
$1,783
Median Rent
$607,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Boston multifamily property with separate utilities, basement storage, and three similarly configured residential units.
Where is this triplex located?
The property is located at 23 Santuit St Boston, MA.
What is the asking price?
The asking price for this property is $1,199,900.
What are key features of this property?
This property features: Three‑unit property with 3,360 square feet on a 0.0785‑acre parcel; Each unit has 5 rooms and space for 3 bedrooms; first floor needs a wall for the third bedroom; Finished basement with storage space and laundry connection
