Approved Multifamily Development
40 Cypress St Newton, MA 02459
For Sale
$4,250,000
Well-advanced project with an approved ANR plan and MRT approvals for up to 10 units across two parcels.
Property Size15,000 SF
Lot Size0.39 Acres
Price / SF$283.33
Days on Market14
Property Features for 40 Cypress St
General Information
Standard status
Active
Size
15,000 SF
Lot size
0.39 Acres
Property subtype
5+ Family - 5+ Units Up/Down
Building Details
Year Built
2026
Listing Agency:
William Raveis R.E. & Home Services
(857) 231-0439
Listed By:
O & C Homes Team
(857) 231-0439
Source:
Lockandkeyre
Added: Jul 17
Changed: Jul 26
Last Checked: Jul 30 at 5:27AM
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 William Raveis R.E. & Home Services
Investment Insights
Based on property information with market context.
This offering presents a rare development opportunity with a 17,000± square foot lot subdivided through an approved ANR plan, creating two development parcels. Under Newton’s MRT zoning, one parcel is approved for two buildings containing six total units, while the second parcel is approved for a single four-unit building for a combined total of 10 units.
Approvals and supporting documentation currently in hand include the ANR plan filed with the Registry of Deeds, an approved MRT project through the DRT team with the order filed at the Registry, along with filed engineering plans, interior demolition permit, fire and sprinkler plans, and a tree permit. Structural plans and building permits are expected to be delivered by closing.
Approvals and supporting documentation currently in hand include the ANR plan filed with the Registry of Deeds, an approved MRT project through the DRT team with the order filed at the Registry, along with filed engineering plans, interior demolition permit, fire and sprinkler plans, and a tree permit. Structural plans and building permits are expected to be delivered by closing.
Key Highlights
- 17,000± sq. ft. lot at 40 Cypress Street in Newton, subdivided via an approved ANR plan into two development parcels.
- Parcel 1 approved for two buildings with six total units under Newton MRT zoning.
- Parcel 2 approved for one four‑unit building under Newton MRT zoning, for 10 units total across both parcels.
Financial Insights For Apartment 5plus
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 | $572.4k | $38.16 |
| − Vacancy | −$29.8k | −$1.98 |
| EGI | $542.6k | $36.18 |
| − OpEx | −$244.2k | −$16.28 |
| NOI | $298.4k | $19.90 |
15,000 SF · lease $38.16/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.26M
$3.73M – $4.97M
NOI $298,449 @ 7.0% cap · market cap 7.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.88M
$7.77M – $10.36M
NOI $621,596 @ 7.0% cap · market cap 14.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Well-advanced project with an approved ANR plan and MRT approvals for up to 10 units across two parcels.
Where is this apartment building located?
The property is located at 40 Cypress St Newton, MA.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: 17,000± sq. ft. lot at 40 Cypress Street in Newton, subdivided via an approved ANR plan into two development parcels.; Parcel 1 approved for two buildings with six total units under Newton MRT zoning.; Parcel 2 approved for one four‑unit building under Newton MRT zoning, for 10 units total across both parcels.
