Four-Unit Multifamily
For Sale
$2,195,000
31-33 Lothrop St, Boston, MA 02135
Brighton multifamily asset with varied unit layouts, one vacant apartment, and existing tenancy.
Property Size4,779 SF
Price / SF$459.30
Days on Market61
Property Features for 31-33 Lothrop St
General Information
Standard status
Active
Size
4,779 SF
Property subtype
4 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 5BR/3BA, 2 x 3BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$13,080
Building Details
Building Size
4,779 SF
Year Built
1910
Listing Agency:
Keller Williams Realty
Listed By:
Chris Kostopoulos Group
(208) 529-8888
Source:
Mgsgrouprealestate
Added: Jul 15
Changed: Sep 11
Last Checked: Sep 12 at 9:40AM
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
Investment Insights
Based on property information with market context.
This four-unit multifamily property, built in 1910, contains 4,779 square feet across two five-bedroom apartments with three bathrooms each and two three-bedroom, one-bathroom units. One apartment is currently vacant, while the remaining units are occupied. The layout offers both an owner-occupancy option and flexibility for leasing the open unit.
The property is located near Boston Landing, which includes a commuter rail station, Stop & Shop, and The Stockyard Restaurant. Local bus service is available at Market & Lothrop, and the Mass Pike can be reached by car. The address is 31-33 Lothrop St, Boston, MA 02135.
The property is located near Boston Landing, which includes a commuter rail station, Stop & Shop, and The Stockyard Restaurant. Local bus service is available at Market & Lothrop, and the Mass Pike can be reached by car. The address is 31-33 Lothrop St, Boston, MA 02135.
Key Highlights
- Four‑unit property totaling 4,779 square feet
- Two 5‑bedroom, 3‑bathroom units
- Two 3‑bedroom, 1‑bathroom units
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
$120,762
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
5.50%
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%
$2,415,240
$2.4M
Cap Rate 7%
$1,725,171
$1.7M
Cap Rate 9%
$1,341,800
$1.3M
Market Conditions
NOI Build-Up for 4,779 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
$180.6K $37.80/SF
− Vacancy
−$8.1K −$1.70/SF
EGI
$172.5K $36.10/SF
− OpEx
−$51.8K −$10.83/SF
NOI
$120.8K $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%
$2,415,240
Cap Rate 7%
$1,725,171
Cap Rate 9%
$1,341,800
Alternative Uses
Best Use
Multifamily LT 5
$1.73M
$1.51M – $2.01M
NOI $120,762 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$1.60M
$1.40M – $1.87M
NOI $112,268 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$3.58M
$3.13M – $4.17M
NOI $250,496 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,661
Businesses Nearby
Explore this area
Business Placement
Demographics for 02135, MA
47,232
Population
22,519
Households
2.1
Avg Household Size
29
Median Age
71%
College-Educated
93%
High-School Grad
2.6 sq mi
ZIP Area
18,166
Density / Sq Mi
$88,208
Median Household Income
$57,124
Median Earnings
$2,179
Median Rent
$684,000
Median Home Value
Check the figures for this property
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?
Quadplex - Brighton multifamily asset with varied unit layouts, one vacant apartment, and existing tenancy.
Where is this quadplex located?
The property is located at 31-33 Lothrop St Boston, MA.
What is the asking price?
The asking price for this property is $2,195,000.
What are key features of this property?
This property features: Four‑unit property totaling 4,779 square feet; Two 5‑bedroom, 3‑bathroom units; Two 3‑bedroom, 1‑bathroom units
