Renovated Six-Unit Apartment
New
For Sale
$3,800,000
36-38 Regent Street, Boston, MA 02119
Fully occupied multifamily property with modern finishes, updated building systems, and leases extending through August 2027.
Property Size7,950 SF
Price / SF$477.99
Days on Market3
Property Features for 36-38 Regent Street
General Information
Standard status
Active
Size
7,950 SF
Property subtype
Multi-family
Occupancy
100%
Financials
Cap Rate
7.4%
Gross Income
$323,100
Units
Unit Mix
5 x 4BR/2BA, 1 x 3BR/2BA
Multifamily Units
6
Additional Details
Public Transit
Yes
Building Details
Year Built
1900
Year Renovated
2025
Buildings
1
Tenancy
Multi
Listing Agency:
Compass
Listed By:
Mission Realty Advisors
(617) 752-6845
Source:
Rosenrealty
Added: Sep 8
Changed: Sep 9
Last Checked: Sep 9 at 2:39PM
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 Compass
Investment Insights
Based on property information with market context.
This six-residence multifamily property contains approximately 7,950 square feet and was comprehensively renovated in 2025. The unit mix includes five four-bedroom, two-bath apartments and one three-bedroom, two-bath apartment. Improvements include updated electrical, plumbing, HVAC, roofing, windows, insulation, and interior finishes. The property is zoned R4 and is currently 100% occupied, with all six apartments leased through August 31, 2027. The in-place cap rate is 7.4%.
Located in Roxbury between Nubian Square and Fort Hill, the property offers access to the Longwood Medical Area, Downtown Boston, major universities, public transportation, and the evolving Roxbury corridor. An elevated setting provides neighborhood and city views. The property was originally built in 1900 and combines a fully updated building with an established apartment lease profile.
Located in Roxbury between Nubian Square and Fort Hill, the property offers access to the Longwood Medical Area, Downtown Boston, major universities, public transportation, and the evolving Roxbury corridor. An elevated setting provides neighborhood and city views. The property was originally built in 1900 and combines a fully updated building with an established apartment lease profile.
Key Highlights
- Six apartments totaling approximately 7,950 square feet
- 2025 renovation included electrical, plumbing, HVAC, roofing, windows, insulation, and interior finishes
- Unit mix: five 4‑bedroom, 2‑bath apartments and one 3‑bedroom, 2‑bath apartment
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
$186,762
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
4.91%
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%
$3,735,240
$3.7M
Cap Rate 7%
$2,668,029
$2.7M
Cap Rate 9%
$2,075,133
$2.1M
Market Conditions
NOI Build-Up for 7,950 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
$353.0K $44.40/SF
− Vacancy
−$13.4K −$1.69/SF
EGI
$339.6K $42.71/SF
− OpEx
−$152.8K −$19.22/SF
NOI
$186.8K $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 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%
$3,735,240
Cap Rate 7%
$2,668,029
Cap Rate 9%
$2,075,133
Alternative Uses
Best Use
Apartment 5plus
$2.67M
$2.33M – $3.11M
NOI $186,762 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.95M
$5.21M – $6.95M
NOI $416,707 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,711
Businesses Nearby
Explore this area
Business Placement
Demographics for 02119, MA
29,175
Population
12,937
Households
2.3
Avg Household Size
34
Median Age
30%
College-Educated
81%
High-School Grad
1.6 sq mi
ZIP Area
18,234
Density / Sq Mi
$43,255
Median Household Income
$38,664
Median Earnings
$1,252
Median Rent
$668,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with modern finishes, updated building systems, and leases extending through August 2027.
Where is this apartment building located?
The property is located at 36-38 Regent Street Boston, MA.
What is the asking price?
The asking price for this property is $3,800,000.
What are key features of this property?
This property features: Six apartments totaling approximately 7,950 square feet; 2025 renovation included electrical, plumbing, HVAC, roofing, windows, insulation, and interior finishes; Unit mix: five 4‑bedroom, 2‑bath apartments and one 3‑bedroom, 2‑bath apartment
