20-Unit Apartment
New
For Sale
$6,400,000
44-44A Joy Street, Boston, MA 02114
The unit mix spans studios through two-bedroom apartments, with seven residences renovated.
Property Size10,565 SF
Days on Market5
Property Features for 44-44A Joy Street
General Information
Standard status
Active
Size
10,565 SF
Property subtype
5+ Family - 5+ Units Up/Down
Units
Unit Mix
6 x studio, 10 x 1BR, 4 x 2BR
Multifamily Units
20
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$55,967
Amenities
in-unit washer/dryer
Building Details
Building Size
10,565 SF
Year Built
1909
Listing Agency:
Boston Realty Advisors
Listed By:
Kevin Benzinger · License #9526383
(617) 375-7900
Source:
Jonathanradford
Added: Oct 16
Changed: Oct 19
Last Checked: Oct 19 at 9:55AM
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
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Investment Insights
Based on property information with market context.
This 10,565-square-foot apartment building in Boston’s Beacon Hill neighborhood was built in 1909 and contains 20 units: six studios, ten one-bedroom apartments, and four two-bedroom apartments. Seven units have been renovated, including six with in-unit washer/dryers. The building uses forced hot water heat, served by a boiler approximately 5 years old, and has a centrally monitored fire alarm.
The property is a short walk from the Massachusetts State House, Cambridge Street, and Massachusetts General Hospital. The Charles/MGH Red Line and Government Center Green Line stations are also within walking distance. Charles Street and the West End offer nearby shops, restaurants, and amenities.
The property is a short walk from the Massachusetts State House, Cambridge Street, and Massachusetts General Hospital. The Charles/MGH Red Line and Government Center Green Line stations are also within walking distance. Charles Street and the West End offer nearby shops, restaurants, and amenities.
Key Highlights
- 20 units: six studios, ten one‑bedroom apartments, and four two‑bedroom apartments
- 10,565 square feet; built in 1909
- Seven units renovated, including six with in‑unit washer/dryers
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$268,317
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,366,340
$5.4M
Cap Rate 7%
$3,833,100
$3.8M
Cap Rate 9%
$2,981,300
$3.0M
Market Conditions
NOI Build-Up for 10,565 SF
Gross rent
$507.1K $48.00/SF
− Vacancy
−$19.3K −$1.82/SF
EGI
$487.8K $46.18/SF
− OpEx
−$219.5K −$20.78/SF
NOI
$268.3K $25.40/SF
Area
ZIP 02114
Vacancy
3.80%
Lease Rate
$48.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,366,340
Cap Rate 7%
$3,833,100
Cap Rate 9%
$2,981,300
Alternative Uses
Best Use
Apartment 5plus
$3.83M
$3.35M – $4.47M
NOI $268,317 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.50M
$4.81M – $6.41M
NOI $384,752 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
24,234
Businesses Nearby
Explore this area
Business Placement
Demographics for 02114, MA
14,469
Population
9,525
Households
1.5
Avg Household Size
33
Median Age
84%
College-Educated
97%
High-School Grad
0.4 sq mi
ZIP Area
36,173
Density / Sq Mi
$135,057
Median Household Income
$94,465
Median Earnings
$2,933
Median Rent
$927,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix spans studios through two-bedroom apartments, with seven residences renovated.
Where is this apartment building located?
The property is located at 44-44A Joy Street Boston, MA.
What is the asking price?
The asking price for this property is $6,400,000.
What are key features of this property?
This property features: 20 units: six studios, ten one‑bedroom apartments, and four two‑bedroom apartments; 10,565 square feet; built in 1909; Seven units renovated, including six with in‑unit washer/dryers
