Fully Leased Six-Unit Apartment
For Sale
$3,850,000
4-7 Englewood Avenue, Brookline, MA 02445
Four-story brick apartment property with updated interiors, separate utility metering, and proximity to multiple Green Line stops.
Property Size6,168 SF
Price / SF$624.19
Days on Market206
Property Features for 4-7 Englewood Avenue
General Information
Standard status
Active
Size
6,168 SF
Property subtype
Multi-family / 5-9 Family
Zoning
6 family
Net Operating Income
$227,810
Taxes and HOA fees
Annual Taxes
$26,212
Amenities
No, .00, Other, Other
No
Wood, Tile
9.0
Full
9
9.00
Brick
Shingle, Rubber, Other
Other
Rain Gutters, Other (See Remarks), Porch
Porch
Building Details
Year Built
2021
Listing Agency:
NextGen Realty, Inc.
(617) 208-2100
Listed By:
Zachary Conley · License #9528338
(617) 208-2100
Source:
Compass
Added: Feb 6
Changed: Aug 30
Last Checked: Aug 30 at 3:44PM
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 NextGen Realty, Inc.
Investment Insights
Based on property information with market context.
This four-story brick apartment building contains 6 units within 6,168 square feet and was built in 2021. The fully leased property includes three 3-bedroom, 2-bath units and three 2-bedroom, 1-bath units. Interior improvements include quartz countertops, stainless steel appliances, upgraded bathrooms, hardwood floors, central A/C, and in-unit laundry. Three apartments have covered porches, while utilities are separately metered.
The property is adjacent to the Englewood Ave Green Line stop in Brookline, with access to Kenmore Square and Fenway Park. The Reservoir stop provides service to the Longwood Medical Area, and the B Line is three blocks away with connections to Boston College, Boston University, and Government Center. Route 90 and Route 9 are also nearby. Zoning is designated for 6 family use.
The property is adjacent to the Englewood Ave Green Line stop in Brookline, with access to Kenmore Square and Fenway Park. The Reservoir stop provides service to the Longwood Medical Area, and the B Line is three blocks away with connections to Boston College, Boston University, and Government Center. Route 90 and Route 9 are also nearby. Zoning is designated for 6 family use.
Key Highlights
- 6,168‑square‑foot apartment building completed in 2021
- Six units: three 3‑bed/2‑bath and three 2‑bed/1‑bath apartments
- Fully leased four‑story brick building
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
$122,722
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
3.19%
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%
$2,454,440
$2.5M
Cap Rate 7%
$1,753,171
$1.8M
Cap Rate 9%
$1,363,578
$1.4M
Market Conditions
NOI Build-Up for 6,168 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
$235.4K $38.16/SF
− Vacancy
−$12.2K −$1.98/SF
EGI
$223.1K $36.18/SF
− OpEx
−$100.4K −$16.28/SF
NOI
$122.7K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /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%
$2,454,440
Cap Rate 7%
$1,753,171
Cap Rate 9%
$1,363,578
Alternative Uses
Best Use
Apartment 5plus
$1.75M
$1.53M – $2.05M
NOI $122,722 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.65M
$3.20M – $4.26M
NOI $255,600 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,397
Businesses Nearby
Explore this area
Business Placement
Demographics for 02445, MA
22,499
Population
10,016
Households
2.2
Avg Household Size
36
Median Age
86%
College-Educated
98%
High-School Grad
2.6 sq mi
ZIP Area
8,653
Density / Sq Mi
$145,878
Median Household Income
$76,514
Median Earnings
$2,779
Median Rent
$1,218,000
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 - Four-story brick apartment property with updated interiors, separate utility metering, and proximity to multiple Green Line stops.
Where is this apartment building located?
The property is located at 4-7 Englewood Avenue Brookline, MA.
What is the asking price?
The asking price for this property is $3,850,000.
What are key features of this property?
This property features: 6,168‑square‑foot apartment building completed in 2021; Six units: three 3‑bed/2‑bath and three 2‑bed/1‑bath apartments; Fully leased four‑story brick building
