Two-Unit
New
For Sale
$1,200,000
38-40 Franconia St, Boston, MA 02122
Each residence includes two bedrooms, a full bath, hardwood flooring, and natural light.
Property Size2,896 SF
Days on Market5
Property Features for 38-40 Franconia St
General Information
Standard status
Active
Size
2,896 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,620
Building Details
Building Size
2,896 SF
Year Built
1925
Listing Agency:
The Galvin Group, LLC
Listed By:
Team Galvin
(617) 436-2000
Source:
Madelyngarciarealestate
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 15 at 12:59AM
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 The Galvin Group, LLC
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Investment Insights
Based on property information with market context.
Built in 1925, this two-family property contains two residences. Each unit has two bedrooms, one full bathroom, hardwood floors, and natural light. The building offers 2,896 square feet of residential space.
The property is at 38-40 Franconia Street in Boston’s Adams Village neighborhood. Restaurants, cafes, and Pope John Paul Park are in the surrounding neighborhood, with public transportation, I-93, and downtown Boston accessible from the location.
The property is at 38-40 Franconia Street in Boston’s Adams Village neighborhood. Restaurants, cafes, and Pope John Paul Park are in the surrounding neighborhood, with public transportation, I-93, and downtown Boston accessible from the location.
Key Highlights
- Two residences, each with two bedrooms and one full bathroom
- 2,896 square feet of residential space
- Hardwood floors and natural light in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,180
Cap Rate
6.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,463,600
$1.5M
Cap Rate 7%
$1,045,429
$1.0M
Cap Rate 9%
$813,111
$813.1K
Market Conditions
NOI Build-Up for 2,896 SF
Gross rent
$109.5K $37.80/SF
− Vacancy
−$4.9K −$1.70/SF
EGI
$104.5K $36.10/SF
− OpEx
−$31.4K −$10.83/SF
NOI
$73.2K $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 Rate 5%
$1,463,600
Cap Rate 7%
$1,045,429
Cap Rate 9%
$813,111
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$914.8K – $1.22M
NOI $73,180 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$971.9K
$850.4K – $1.13M
NOI $68,033 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$2.17M
$1.90M – $2.53M
NOI $151,797 @ 7.0% cap · market cap 12.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,154
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?
Duplex - Each residence includes two bedrooms, a full bath, hardwood flooring, and natural light.
Where is this duplex located?
The property is located at 38-40 Franconia St Boston, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two residences, each with two bedrooms and one full bathroom; 2,896 square feet of residential space; Hardwood floors and natural light in both units
