Roxbury Multifamily Property For
For Sale
$1,500,000
Pending
24-24A Clarence, Boston, MA 02119
Roxbury multifamily property featuring four units, renovated in 2015.
Property Size4,744 SF
Lot Size0.06 Acres
Days on Market268
Property Features for 24-24A Clarence
General Information
Standard status
Pending
Size
4,744 SF
Lot size
0.06 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$11,018
Building Details
Building Size
4,744 SF
Year Built
1910
Stories
3
Units
4
Listing Agency:
(781) 883-8518
Listed By:
Michael McCarthy
(781) 883-8518
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Aug 21 at 8:08AM
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 Michael McCarthy
Investment Insights
Based on property information with market context.
Located in Roxbury, Massachusetts, the property at 24-24A Clarence Street features a three-story building at 24 Clarence Street, containing three residential units. Additionally, 24A Clarence Street is a detached two-story single-family residence situated at the rear of the property. The property comprises a total of four units, including three 3-bedroom/1-bathroom units and one 2-bedroom/1-bathroom unit. The property was fully renovated in 2015.
Key Highlights
- High Cash Flow: Property cashflows very well at a 6.87 cap rate.
- Renovated in 2015: The property was fully renovated in 2015.
- Four Units Total: The property includes a total of four units.
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
$119,878
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
7.99%
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%
$2,397,560
$2.4M
Cap Rate 7%
$1,712,543
$1.7M
Cap Rate 9%
$1,331,978
$1.3M
Market Conditions
NOI Build-Up for 4,744 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
$179.3K $37.80/SF
− Vacancy
−$8.1K −$1.70/SF
EGI
$171.3K $36.10/SF
− OpEx
−$51.4K −$10.83/SF
NOI
$119.9K $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%
$2,397,560
Cap Rate 7%
$1,712,543
Cap Rate 9%
$1,331,978
Alternative Uses
Best Use
Multifamily LT 5
$1.71M
$1.50M – $2.00M
NOI $119,878 @ 7.0% cap · market cap 7.99%
Second Best
Apartment 5plus
$1.59M
$1.39M – $1.86M
NOI $111,446 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$3.55M
$3.11M – $4.14M
NOI $248,662 @ 7.0% cap · market cap 16.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,189
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Roxbury multifamily property featuring four units, renovated in 2015.
Where is this quadplex located?
The property is located at 24-24A Clarence Boston, MA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: High Cash Flow: Property cashflows very well at a **6.87 cap rate**.; Renovated in 2015: The property was fully renovated in 2015.; Four Units Total: The property includes a total of four units.
