Vacant Four-Unit
For Sale
$1,749,995
254-256 E Eagle St, Boston, MA 02128
Legal quadplex with spacious layouts, a large yard, water views, and immediate vacant delivery.
Property Size4,938 SF
Days on Market11
Property Features for 254-256 E Eagle St
General Information
Standard status
Active
Size
4,938 SF
Total Parking Spaces
3
Property subtype
Multifamily
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$9,554
Amenities
large yard
Building Details
Building Size
4,938 SF
Year Built
1920
Listing Agency:
Lyv Realty
(781) 572-5966
Listed By:
Candice Pagliarulo Hodgson · License #448551563
Source:
Classifiedrealtygroup
Added: Aug 12
Changed: Aug 14
Last Checked: Aug 22 at 4:03AM
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 Lyv Realty
Investment Insights
Based on property information with market context.
Built in 1920, this legal quadplex at 254-256 E Eagle St comprises four residential units with generously sized rooms and layouts designed for comfortable everyday living. The property has been maintained by the same family for decades and is described as move-in ready. It will be delivered fully vacant, allowing the next owner to determine the preferred occupancy or operating strategy from the outset.
The property occupies an oversized lot with a large yard and parking for three vehicles. Elevated views extend toward the water, marinas, and Boston bridges, adding a distinctive setting to the residential asset. Located in East Boston, the building combines four-unit scale with substantial outdoor space and a clear, vacant delivery.
The property occupies an oversized lot with a large yard and parking for three vehicles. Elevated views extend toward the water, marinas, and Boston bridges, adding a distinctive setting to the residential asset. Located in East Boston, the building combines four-unit scale with substantial outdoor space and a clear, vacant delivery.
Key Highlights
- Legal 4‑unit property delivered fully vacant
- Built in 1920 and maintained by the same family for decades
- Spacious layouts with large rooms in each unit
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
$124,780
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
7.13%
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%
$2,495,600
$2.5M
Cap Rate 7%
$1,782,571
$1.8M
Cap Rate 9%
$1,386,444
$1.4M
Market Conditions
NOI Build-Up for 4,938 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
$186.7K $37.80/SF
− Vacancy
−$8.4K −$1.70/SF
EGI
$178.3K $36.10/SF
− OpEx
−$53.5K −$10.83/SF
NOI
$124.8K $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%
$2,495,600
Cap Rate 7%
$1,782,571
Cap Rate 9%
$1,386,444
Alternative Uses
Best Use
Multifamily LT 5
$1.78M
$1.56M – $2.08M
NOI $124,780 @ 7.0% cap · market cap 7.13%
Second Best
Apartment 5plus
$1.66M
$1.45M – $1.93M
NOI $116,004 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$3.70M
$3.24M – $4.31M
NOI $258,830 @ 7.0% cap · market cap 14.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,454
Businesses Nearby
Explore this area
Business Placement
Demographics for 02128, MA
43,066
Population
19,124
Households
2.3
Avg Household Size
33
Median Age
38%
College-Educated
77%
High-School Grad
5.0 sq mi
ZIP Area
8,613
Density / Sq Mi
$92,079
Median Household Income
$48,549
Median Earnings
$2,009
Median Rent
$680,000
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 - Legal quadplex with spacious layouts, a large yard, water views, and immediate vacant delivery.
Where is this quadplex located?
The property is located at 254-256 E Eagle St Boston, MA.
What is the asking price?
The asking price for this property is $1,749,995.
What are key features of this property?
This property features: Legal 4‑unit property delivered fully vacant; Built in 1920 and maintained by the same family for decades; Spacious layouts with large rooms in each unit
