Six-Unit Multifamily in
For Sale
$1,825,000
252-254 Magnolia St, Boston, MA 02121
Multifamily property with value-add potential in a growing neighborhood.
Property Size5,544 SF
Lot Size0.13 Acres
Days on Market267
Property Features for 252-254 Magnolia St
General Information
Standard status
Active
Size
5,544 SF
Lot size
0.13 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$14,150
Building Details
Building Size
5,544 SF
Year Built
1899
Stories
5
Units
6
Listing Agency:
EVO Real Estate Group, LLC
(857) 249-2824
Listed By:
Ashmael Brun · License #9564964
(857) 249-2824
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 21
Last Checked: Aug 21 at 1:05PM
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 EVO Real Estate Group, LLC
Investment Insights
Based on property information with market context.
This six-unit multifamily property is located in a rapidly developing neighborhood of Dorchester. The unit mix comprises five 3-bed/1-bath units and one 2-bed/1-bath unit. The property offers a value-add opportunity for investors to increase cash flow through cosmetic updates and strategic improvements. Its location provides convenient access to Four Corners/Geneva and Uphams Corner commuter rail stations, attracting renters seeking transit options. The property is situated near grocery stores, shops, and restaurants, supporting strong rental demand. Additional features include private decks, a fenced backyard, and direct access to an adjacent playground, enhancing tenant appeal.
Key Highlights
- Strong Value‑Add Potential: Increase cash flow through updates.
- Prime Location: Situated in Dorchester's fastest‑growing neighborhood.
- Convenient Transit Access: Minutes from commuter rail stations.
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
$130,240
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
7.14%
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%
$2,604,800
$2.6M
Cap Rate 7%
$1,860,571
$1.9M
Cap Rate 9%
$1,447,111
$1.4M
Market Conditions
NOI Build-Up for 5,544 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
$246.2K $44.40/SF
− Vacancy
−$9.4K −$1.69/SF
EGI
$236.8K $42.71/SF
− OpEx
−$106.6K −$19.22/SF
NOI
$130.2K $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%
$2,604,800
Cap Rate 7%
$1,860,571
Cap Rate 9%
$1,447,111
Alternative Uses
Best Use
Apartment 5plus
$1.86M
$1.63M – $2.17M
NOI $130,240 @ 7.0% cap · market cap 7.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.15M
$3.63M – $4.84M
NOI $290,594 @ 7.0% cap · market cap 15.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,759
Businesses Nearby
Explore this area
Business Placement
Demographics for 02121, MA
28,766
Population
11,384
Households
2.5
Avg Household Size
33
Median Age
21%
College-Educated
75%
High-School Grad
1.9 sq mi
ZIP Area
15,140
Density / Sq Mi
$38,565
Median Household Income
$33,700
Median Earnings
$1,316
Median Rent
$548,100
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?
Apartment building - Multifamily property with value-add potential in a growing neighborhood.
Where is this apartment building located?
The property is located at 252-254 Magnolia St Boston, MA.
What is the asking price?
The asking price for this property is $1,825,000.
What are key features of this property?
This property features: Strong Value‑Add Potential: Increase cash flow through updates.; Prime Location: Situated in Dorchester's fastest‑growing neighborhood.; Convenient Transit Access: Minutes from commuter rail stations.
