Updated 6-Unit Apartment
For Sale
$1,849,000
3 Sutton Street, Boston, MA 02126
Updated apartment property with individually metered utilities and off-street parking.
Property Size5,856 SF
Price / SF$315.74
Days on Market9
Property Features for 3 Sutton Street
General Information
Standard status
Active
Size
5,856 SF
Property subtype
Multi-family
Occupancy
100%
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
6
Building Details
Year Built
1920
Buildings
1
Listing Agency:
Boston Realty Advisors
Listed By:
Daniel Alper
(978) 658-2345
Source:
Wilsonwolfe
Added: Aug 3
Changed: Aug 10
Last Checked: Aug 10 at 4:14AM
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 Boston Realty Advisors
Investment Insights
Based on property information with market context.
The property at 3 Sutton Street is a 5,856-square-foot apartment building with six units and full occupancy. Built in 1920, the property has been updated and includes individually metered utilities for each unit. Several off-street parking spaces serve the building.
Located in Mattapan, the property is near public transportation and is identified as an apartment building within a multifamily classification.
Located in Mattapan, the property is near public transportation and is identified as an apartment building within a multifamily classification.
Key Highlights
- Six‑unit apartment building with full occupancy
- 5,856 SF building on 3 Sutton Street
- Updated property built in 1920
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
$137,569
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
7.44%
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%
$2,751,380
$2.8M
Cap Rate 7%
$1,965,271
$2.0M
Cap Rate 9%
$1,528,544
$1.5M
Market Conditions
NOI Build-Up for 5,856 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
$260.0K $44.40/SF
− Vacancy
−$9.9K −$1.69/SF
EGI
$250.1K $42.71/SF
− OpEx
−$112.6K −$19.22/SF
NOI
$137.6K $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%
$2,751,380
Cap Rate 7%
$1,965,271
Cap Rate 9%
$1,528,544
Alternative Uses
Best Use
Apartment 5plus
$1.97M
$1.72M – $2.29M
NOI $137,569 @ 7.0% cap · market cap 7.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.38M
$3.84M – $5.12M
NOI $306,948 @ 7.0% cap · market cap 16.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
837
Businesses Nearby
Explore this area
Business Placement
Demographics for 02126, MA
22,734
Population
9,617
Households
2.4
Avg Household Size
38
Median Age
24%
College-Educated
87%
High-School Grad
1.8 sq mi
ZIP Area
12,630
Density / Sq Mi
$67,206
Median Household Income
$42,397
Median Earnings
$1,659
Median Rent
$515,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Updated apartment property with individually metered utilities and off-street parking.
Where is this apartment building located?
The property is located at 3 Sutton Street Boston, MA.
What is the asking price?
The asking price for this property is $1,849,000.
What are key features of this property?
This property features: Six‑unit apartment building with full occupancy; 5,856 SF building on 3 Sutton Street; Updated property built in 1920
