Triplex with Approved 6-Family
32 Gordon Street Boston, MA 02134
New
32 Gordon Street, Boston, MA, 02134
$1,850,000
For Sale
$1,850,000
Fully tenanted 3-family is scheduled to remain leased through 8/31/27, with approvals to convert to a 6-family.
Property Size4,169 SF
Price / SF$443.75
Days on Market7
Property Features for 32 Gordon Street
General Information
- Standard status
- Active
- Size
- 4,169 SF
- Property subtype
- 3 Family
Building Details
- Year Built
- 1900
Listing agency
Coldwell Banker Realty - Brookline
(617) 296-7653
Listed by
The Residential Group · License #327164
(617) 296-7653
Source
Lockandkeyre
Added: Jul 16 Updated: Jul 21 at 4:32AM Checked: Jul 21 at 4:32AM
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 Coldwell Banker Realty - Brookline
Investment Insights
Based on property information with market context.
This fully tenanted 3-family property at 32 Gordon Street is leased through 8/31/27 and is currently producing gross income of more than $121,000 annually, as stated in the remarks. The building is presented with approvals to convert the asset to a 6-family.
The conversion concept described includes gutting the building, excavating into the basement, changing the roof dormers, updating utilities, and building out to approximately 6,263 square feet.
For buyers evaluating a conversion plan, the current income stream and the stated scope of the proposed work are key considerations when underwriting timing and future unit mix.
The conversion concept described includes gutting the building, excavating into the basement, changing the roof dormers, updating utilities, and building out to approximately 6,263 square feet.
For buyers evaluating a conversion plan, the current income stream and the stated scope of the proposed work are key considerations when underwriting timing and future unit mix.
Key Highlights
- Fully tenanted 3‑family with leases scheduled through 8/31/27
- Gross income exceeding $121,000 annually
- Approvals in place to convert from a 3‑family to a 6‑family
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $157.6k | $37.80 |
| − Vacancy | −$7.1k | −$1.70 |
| EGI | $150.5k | $36.10 |
| − OpEx | −$45.1k | −$10.83 |
| NOI | $105.3k | $25.27 |
4,169 SF · lease $37.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.32M – $1.76M
NOI $105,348 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,938 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$3.12M
$2.73M – $3.64M
NOI $218,522 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Fully tenanted 3-family is scheduled to remain leased through 8/31/27, with approvals to convert to a 6-family.
Where is this triplex located?
The property is located at 32 Gordon Street Boston, MA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Fully tenanted 3‑family with leases scheduled through 8/31/27; Gross income exceeding $121,000 annually; Approvals in place to convert from a 3‑family to a 6‑family
