Renovated Triplex
For Sale
$1,400,000
39 West Walnut Park, Boston, MA 02119
Three-family property with updated systems, central air and heat, and stainless steel appliances in each unit.
Property Size1,974 SF
Price / SF$709.22
Days on Market351
Property Features for 39 West Walnut Park
General Information
Standard status
Active
Size
1,974 SF
Total Parking Spaces
3
Property subtype
Multi-family / 3 Family
Zoning
R3
Net Operating Income
$70,800
Taxes and HOA fees
Annual Taxes
$10,637
Amenities
City/Town Sewer, Public
No
Tile, Hardwood
3.0
Insulated Windows
Full, Walk Out
3
3.00
Frame
Rubber
Deck
Building Details
Year Built
1910
Listing Agency:
Advisors Living - Boston
(857) 991-1225
Listed By:
Guy Contaldi · License #9506059
(857) 991-1225
Source:
Compass
Added: Sep 17, 2025
Changed: Aug 31
Last Checked: Aug 31 at 3:31AM
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 Advisors Living - Boston
Investment Insights
Based on property information with market context.
This three-family building contains 8 bedrooms and 3 bathrooms across 1,974 square feet. Renovated in 2018, the property includes stainless steel appliances, custom countertops, newer hardwood flooring, recessed lighting, tankless water heaters, and central air and heat in each unit. Plumbing and electrical systems were also updated as part of the renovation. The building has frame construction, insulated windows, and deck space.
Located at 39 West Walnut Park in Boston, the property is near the Stony Brook Orange Line T Station, Sam Adams Brewery, and the Southwest Corridor Park and Bike Path. Longwood Medical Area, Northeastern University, and Back Bay are also within close reach. R3 zoning is identified for the property.
Located at 39 West Walnut Park in Boston, the property is near the Stony Brook Orange Line T Station, Sam Adams Brewery, and the Southwest Corridor Park and Bike Path. Longwood Medical Area, Northeastern University, and Back Bay are also within close reach. R3 zoning is identified for the property.
Key Highlights
- 8‑bedroom, 3‑bathroom three‑family building
- 1,974 square feet with renovations completed in 2018
- Each unit includes stainless steel appliances, central air and heat, and custom countertops
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
$49,882
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
3.56%
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%
$997,640
$997.6K
Cap Rate 7%
$712,600
$712.6K
Cap Rate 9%
$554,244
$554.2K
Market Conditions
NOI Build-Up for 1,974 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
$74.6K $37.80/SF
− Vacancy
−$3.4K −$1.70/SF
EGI
$71.3K $36.10/SF
− OpEx
−$21.4K −$10.83/SF
NOI
$49.9K $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 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%
$997,640
Cap Rate 7%
$712,600
Cap Rate 9%
$554,244
Alternative Uses
Best Use
Multifamily LT 5
$712.6K
$623.5K – $831.4K
NOI $49,882 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$662.5K
$579.7K – $772.9K
NOI $46,373 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$1.48M
$1.29M – $1.72M
NOI $103,469 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,859
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?
Triplex - Three-family property with updated systems, central air and heat, and stainless steel appliances in each unit.
Where is this triplex located?
The property is located at 39 West Walnut Park Boston, MA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 8‑bedroom, 3‑bathroom three‑family building; 1,974 square feet with renovations completed in 2018; Each unit includes stainless steel appliances, central air and heat, and custom countertops
