20-Unit Apartment
For Sale
$6,400,000
44-44a Joy Street, Boston, MA 02114
Seven apartments have been renovated, including six with in-unit washer/dryers.
Property Size10,565 SF
Price / SF$605.77
Days on Market8
Property Features for 44-44a Joy Street
General Information
Standard status
Active
Size
10,565 SF
Property subtype
Multi-family
Units
Unit Mix
6 x studios, 10 x one-bedroom, 4 x two-bedroom
Multifamily Units
20
Additional Details
Public Transit
Yes
Amenities
in-unit washer/dryers
Building Details
Year Built
1909
Listing Agency:
Boston Realty Advisors
Listed By:
Kevin Benzinger · License #9526383
(617) 375-7900
Source:
Elevatedboston
Added: Oct 13
Changed: Oct 19
Last Checked: Oct 19 at 7:34AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 44-44a Joy Street, this 20-unit apartment building contains six studios, ten one-bedroom apartments, and four two-bedroom apartments. Seven units have been renovated with high-end finishes; six of those apartments include in-unit washer/dryers. The 10,565-square-foot building dates to 1909 and is served by forced-hot-water heating from a single boiler, approximately five years old. A centrally monitored fire alarm is also in place.
The property is in Boston’s Beacon Hill neighborhood, within walking distance of the Massachusetts State House, Cambridge Street, and Massachusetts General Hospital. Charles/MGH on the Red Line and Government Center on the Green Line are both nearby, as are shops and restaurants on Charles Street and in the West End.
The property is in Boston’s Beacon Hill neighborhood, within walking distance of the Massachusetts State House, Cambridge Street, and Massachusetts General Hospital. Charles/MGH on the Red Line and Government Center on the Green Line are both nearby, as are shops and restaurants on Charles Street and in the West End.
Key Highlights
- 20 apartments: six studios, ten one‑bedroom units, and four two‑bedroom units
- Seven apartments renovated; six include in‑unit washer/dryers and high‑end finishes
- 10,565 square feet; built in 1909
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 - Seven apartments have been renovated, including six with in-unit washer/dryers.
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 apartments: six studios, ten one‑bedroom units, and four two‑bedroom units; Seven apartments renovated; six include in‑unit washer/dryers and high‑end finishes; 10,565 square feet; built in 1909
