8-Unit Multifamily
For Sale
$3,800,000
299 Dudley Street, Boston, MA 02119
Modern apartment property with spacious three-bedroom residences, separate utilities, parking, laundry, and dedicated storage.
Property Size7,200 SF
Price / SF$527.78
Days on Market172
Property Features for 299 Dudley Street
General Information
Standard status
Active
Size
7,200 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
99
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
8 x 3BR/2BA
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$99
Amenities
on-site parking
common laundry
dedicated storage
bike storage
Building Details
Building Size
7,200 SF
Year Built
2015
Buildings
1
Stories
4
Listing Agency:
Keller Williams Realty Boston Northwest
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Mar 16
Changed: Sep 2
Last Checked: Sep 2 at 2:13PM
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 Keller Williams Realty Boston Northwest
Investment Insights
Based on property information with market context.
Constructed in 2015, this 7,200-square-foot multifamily property contains eight three-bedroom, two-bathroom apartments. The residences feature open layouts, modern finishes, substantial natural light, and city and skyline views. Separate utilities serve each unit, while the property includes on-site parking, common laundry, dedicated storage, and bicycle storage.
The building is located at 299 Dudley St in Boston’s Roxbury neighborhood, within a transit-oriented setting offering connectivity to Boston’s core. Its unit mix, newer construction, and collection of resident amenities create a cohesive multifamily asset with a practical operating profile.
The building is located at 299 Dudley St in Boston’s Roxbury neighborhood, within a transit-oriented setting offering connectivity to Boston’s core. Its unit mix, newer construction, and collection of resident amenities create a cohesive multifamily asset with a practical operating profile.
Key Highlights
- Eight three‑bedroom, two‑bathroom apartment units
- 7,200 SF multifamily building constructed in 2015
- Separate utilities for each apartment
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
$169,143
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
4.45%
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%
$3,382,860
$3.4M
Cap Rate 7%
$2,416,329
$2.4M
Cap Rate 9%
$1,879,367
$1.9M
Market Conditions
NOI Build-Up for 7,200 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
$319.7K $44.40/SF
− Vacancy
−$12.1K −$1.69/SF
EGI
$307.5K $42.71/SF
− OpEx
−$138.4K −$19.22/SF
NOI
$169.1K $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%
$3,382,860
Cap Rate 7%
$2,416,329
Cap Rate 9%
$1,879,367
Alternative Uses
Best Use
Apartment 5plus
$2.42M
$2.11M – $2.82M
NOI $169,143 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.39M
$4.72M – $6.29M
NOI $377,395 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,121
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?
Apartment building - Modern apartment property with spacious three-bedroom residences, separate utilities, parking, laundry, and dedicated storage.
Where is this apartment building located?
The property is located at 299 Dudley Street Boston, MA.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Eight three‑bedroom, two‑bathroom apartment units; 7,200 SF multifamily building constructed in 2015; Separate utilities for each apartment
