Newly Renovated 3-Unit
38 Bellevue Street Boston, MA 02125
38 Bellevue Street, Boston, MA, 02125
$1,199,000
For Sale
$1,199,000
Three renovated apartments offer two vacant units and 4-bedroom, 1-bath layouts.
Property Size4,104 SF
Price / SF$292.15
Days on Market54
Property Features for 38 Bellevue Street
General Information
- Standard status
- Active
- Size
- 4,104 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1905
Listing agency
Boston Realty Advisors
Listed by
Kevin Benzinger
(401) 333-9333
Source
Residentialproperties
Added: May 30 Updated: Jul 21 at 7:10AM Checked: Jul 22 at 6:40AM
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 Boston Realty Advisors
Investment Insights
Based on property information with market context.
This large 3-unit multifamily property features three newly renovated apartments, each laid out as a spacious 4-bedroom, 1-bath configuration. The base building has been substantially improved, including a new roof completed in 2023, along with upgrades to the exterior decks, heating systems, and fire systems. Two of the units are currently vacant, creating an owner/user opportunity alongside existing rental potential.
The property is located close to several transit routes and within a short walk to the MBTA Red Line.
Overall, the building presents a renovated 3-unit income asset with meaningful recent improvements and immediate occupancy flexibility given the two vacant apartments.
The property is located close to several transit routes and within a short walk to the MBTA Red Line.
Overall, the building presents a renovated 3-unit income asset with meaningful recent improvements and immediate occupancy flexibility given the two vacant apartments.
Key Highlights
- Large 3‑unit multifamily property built in 1905 with three apartments
- Three newly renovated 4‑bedroom, 1‑bath apartments
- Base building improvements include a new roof (2023)
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 | $155.1k | $37.80 |
| − Vacancy | −$7.0k | −$1.70 |
| EGI | $148.2k | $36.10 |
| − OpEx | −$44.4k | −$10.83 |
| NOI | $103.7k | $25.27 |
4,104 SF · lease $37.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.48M
$1.30M – $1.73M
NOI $103,705 @ 7.0% cap · market cap 8.65%
Second Best
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,411 @ 7.0% cap · market cap 8.04%
Theoretical Best
Office A
$3.07M
$2.69M – $3.59M
NOI $215,115 @ 7.0% cap · market cap 17.94%
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 - Three renovated apartments offer two vacant units and 4-bedroom, 1-bath layouts.
Where is this triplex located?
The property is located at 38 Bellevue Street Boston, MA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Large 3‑unit multifamily property built in 1905 with three apartments; Three newly renovated 4‑bedroom, 1‑bath apartments; Base building improvements include a new roof (2023)
