Six-Unit Apartment
For Sale
$2,429,000
342-344 Bowdoin Street, Boston, MA 02122
Two adjacent buildings include vacant units, occupied Section 8 housing, and shared laundry facilities.
Property Size8,634 SF
Price / SF$281.33
Days on Market102
Property Features for 342-344 Bowdoin Street
General Information
Standard status
Active
Size
8,634 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
6
Amenities
central air
mini-split systems
keyless entry
common laundry
Building Details
Year Built
1900
Buildings
2
Listing Agency:
Boston Realty Advisors
Listed By:
Daniel Alper · License #CN254381
(617) 768-7333
Source:
Kelleyrege
Added: Jul 11
Changed: Oct 19
Last Checked: Oct 19 at 9:45AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property consists of two neighboring three-family buildings at 342-344 Bowdoin Street. The six-unit package includes four units scheduled for delivery vacant at closing and two occupied by long-term Section 8 tenants. Each unit has 2 full bathrooms, while property features include central air, mini-split systems, keyless entry, and common laundry that generates income.
The property is located in Dorchester’s Meeting House Hill neighborhood, directly along an MBTA bus route and minutes from Fields Corner Station on the Red Line. I-93 provides regional highway access, and nearby destinations include Dorchester Food Co-op, Ronan Park, and a retail and dining corridor. The buildings are offered together or individually, with vacant units providing room for renovation, repositioning, or conventional leasing.
The property is located in Dorchester’s Meeting House Hill neighborhood, directly along an MBTA bus route and minutes from Fields Corner Station on the Red Line. I-93 provides regional highway access, and nearby destinations include Dorchester Food Co-op, Ronan Park, and a retail and dining corridor. The buildings are offered together or individually, with vacant units providing room for renovation, repositioning, or conventional leasing.
Key Highlights
- Six‑unit multifamily package comprising two adjacent three‑family buildings
- Four units to be delivered vacant at closing; two occupied by long‑term Section 8 tenants
- Every unit includes 2 full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$202,830
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,056,600
$4.1M
Cap Rate 7%
$2,897,571
$2.9M
Cap Rate 9%
$2,253,667
$2.3M
Market Conditions
NOI Build-Up for 8,634 SF
Gross rent
$383.3K $44.40/SF
− Vacancy
−$14.6K −$1.69/SF
EGI
$368.8K $42.71/SF
− OpEx
−$166.0K −$19.22/SF
NOI
$202.8K $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 Rate 5%
$4,056,600
Cap Rate 7%
$2,897,571
Cap Rate 9%
$2,253,667
Alternative Uses
Best Use
Apartment 5plus
$2.90M
$2.54M – $3.38M
NOI $202,830 @ 7.0% cap · market cap 8.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.47M
$5.66M – $7.54M
NOI $452,560 @ 7.0% cap · market cap 18.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,019
Businesses Nearby
Explore this area
Business Placement
Demographics for 02122, MA
24,385
Population
10,039
Households
2.4
Avg Household Size
35
Median Age
38%
College-Educated
81%
High-School Grad
1.7 sq mi
ZIP Area
14,344
Density / Sq Mi
$82,945
Median Household Income
$53,897
Median Earnings
$2,052
Median Rent
$656,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Two adjacent buildings include vacant units, occupied Section 8 housing, and shared laundry facilities.
Where is this apartment building located?
The property is located at 342-344 Bowdoin Street Boston, MA.
What is the asking price?
The asking price for this property is $2,429,000.
What are key features of this property?
This property features: Six‑unit multifamily package comprising two adjacent three‑family buildings; Four units to be delivered vacant at closing; two occupied by long‑term Section 8 tenants; Every unit includes 2 full bathrooms
