Brick Triplex with In-Unit
38 Frankfort Street Boston, MA 02128
38 Frankfort Street, Boston, MA, 02128
$1,850,000
For Sale
$1,850,000
Three-unit brick building with in-unit laundry and updated kitchens, including stainless appliances and renovated bathrooms.
Property Size4,167 SF
Lot Size0.08 Acres
Price / SF$443.96
Days on Market54
Property Features for 38 Frankfort Street
General Information
- Standard status
- Active
- Size
- 4,167 SF
- Lot size
- 0.08 Acres
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1905
Listing agency
Coelho Realty Group LLC
(978) 578-5013
Listed by
Chris Bernier
(978) 578-5013
Source
Churchillprop
Added: May 30 Updated: Jul 20 at 6:58PM Checked: Jul 21 at 3:13AM
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 Coelho Realty Group LLC
Investment Insights
Based on property information with market context.
38 Frankfort Street is a brick, multi-story triplex containing three (3) units, with two (2) 4-bedroom/1-bathroom units and one (1) 3+-bedroom/1-bathroom unit. The property totals 6,060 square feet of gross area and 4,167 square feet of gross living area, set on a 0.08-acre parcel.
The units are described as having condo-quality finishes, including newer kitchens with granite countertops, cabinetry, and stainless-steel appliances with dishwashers. Bathrooms have been renovated, hardwood floors run throughout the units, and each unit has individual laundry. Tenants are responsible for all utilities at the property, including gas-powered heat and hot water, separately metered electricity, and city water and sewer.
The property is currently assessed as three (3) condos. The listing notes that opportunity may exist to increase income by converting back into a 3-unit property and potentially reducing taxes.
The units are described as having condo-quality finishes, including newer kitchens with granite countertops, cabinetry, and stainless-steel appliances with dishwashers. Bathrooms have been renovated, hardwood floors run throughout the units, and each unit has individual laundry. Tenants are responsible for all utilities at the property, including gas-powered heat and hot water, separately metered electricity, and city water and sewer.
The property is currently assessed as three (3) condos. The listing notes that opportunity may exist to increase income by converting back into a 3-unit property and potentially reducing taxes.
Key Highlights
- Brick multi‑story building built in 1905 with 3 total units on a 0.08‑acre parcel
- Unit mix: two 4‑bedroom/1‑bath units and one 3+-bedroom/1‑bath unit
- 4,167 SF gross living area and 6,060 SF gross area
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 | $157.5k | $37.80 |
| − Vacancy | −$7.1k | −$1.70 |
| EGI | $150.4k | $36.10 |
| − OpEx | −$45.1k | −$10.83 |
| NOI | $105.3k | $25.27 |
4,167 SF · lease $37.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.32M – $1.75M
NOI $105,297 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$1.40M
$1.22M – $1.63M
NOI $97,891 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$3.12M
$2.73M – $3.64M
NOI $218,417 @ 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 - Three-unit brick building with in-unit laundry and updated kitchens, including stainless appliances and renovated bathrooms.
Where is this triplex located?
The property is located at 38 Frankfort 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: Brick multi‑story building built in 1905 with 3 total units on a 0.08‑acre parcel; Unit mix: two 4‑bedroom/1‑bath units and one 3+-bedroom/1‑bath unit; 4,167 SF gross living area and 6,060 SF gross area
