Three-Unit Multifamily
New
For Sale
$3,200,000
3 Strathmore Rd, Brookline, MA 02445
Well-maintained residential building with spacious apartments, original character, off-street parking, and leases extending through 2027.
Property Size5,118 SF
Price / SF$625.24
Days on Market5
Property Features for 3 Strathmore Rd
General Information
Standard status
Active
Size
5,118 SF
Total Parking Spaces
6
Property subtype
Multifamily
Occupancy
100%
Units
Unit Mix
1 x 2BR, 2 x 3BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$25,692
Building Details
Building Size
5,118 SF
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
Fenway Property Advisors
Listed By:
Matthew Foley
(617) 262-9966
Source:
Classifiedrealtygroup
Added: Sep 11
Last Checked: Sep 15 at 5:23AM
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 Fenway Property Advisors
Investment Insights
Based on property information with market context.
This 5,118-square-foot triplex contains three apartments: one two-bedroom residence and two three-bedroom residences. Each unit offers a practical layout with large bedrooms, eat-in kitchens, hardwood flooring, storage, and original architectural details. The building was constructed in 1900 and received a new rubber roof in 2021. Off-street parking behind the property accommodates multiple vehicles.
The property is located at 3 Strathmore Rd in Brookline, with access to Cleveland Circle, Coolidge Corner, public transportation, the Longwood Medical Area, and Boston College. Shops, restaurants, and neighborhood services are also nearby. All three apartments are occupied by long-term tenants under fixed leases that run through 2027.
The property is located at 3 Strathmore Rd in Brookline, with access to Cleveland Circle, Coolidge Corner, public transportation, the Longwood Medical Area, and Boston College. Shops, restaurants, and neighborhood services are also nearby. All three apartments are occupied by long-term tenants under fixed leases that run through 2027.
Key Highlights
- 5,118‑square‑foot triplex with three apartments
- Unit mix includes one two‑bedroom and two three‑bedroom apartments
- New rubber roof installed in 2021
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
$108,299
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
3.38%
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%
$2,165,980
$2.2M
Cap Rate 7%
$1,547,129
$1.5M
Cap Rate 9%
$1,203,322
$1.2M
Market Conditions
NOI Build-Up for 5,118 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
$162.8K $31.80/SF
− Vacancy
−$8.0K −$1.57/SF
EGI
$154.7K $30.23/SF
− OpEx
−$46.4K −$9.07/SF
NOI
$108.3K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /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%
$2,165,980
Cap Rate 7%
$1,547,129
Cap Rate 9%
$1,203,322
Alternative Uses
Best Use
Multifamily LT 5
$1.55M
$1.35M – $1.80M
NOI $108,299 @ 7.0% cap · market cap 3.38%
Second Best
Apartment 5plus
$1.45M
$1.27M – $1.70M
NOI $101,831 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$3.03M
$2.65M – $3.53M
NOI $212,089 @ 7.0% cap · market cap 6.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,279
Businesses Nearby
Explore this area
Business Placement
Demographics for 02445, MA
22,499
Population
10,016
Households
2.2
Avg Household Size
36
Median Age
86%
College-Educated
98%
High-School Grad
2.6 sq mi
ZIP Area
8,653
Density / Sq Mi
$145,878
Median Household Income
$76,514
Median Earnings
$2,779
Median Rent
$1,218,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained residential building with spacious apartments, original character, off-street parking, and leases extending through 2027.
Where is this triplex located?
The property is located at 3 Strathmore Rd Brookline, MA.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 5,118‑square‑foot triplex with three apartments; Unit mix includes one two‑bedroom and two three‑bedroom apartments; New rubber roof installed in 2021
