New Multifamily Asset in
45 Preble St, Boston, MA 02127
New-construction multifamily property in high-demand Boston neighborhood.
Type:Multifamily
Property size:
23,700 SFPrice / SF:
$442/SF- Added:
- Feb 2, 2026
- Days on Market:
- 109
- Last Refresh:
- Mar 17 at 1:14 pm
Property Features for 45 Preble St
General Information
- Standard status
- Active
- Size
- 23,700 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 2022
Listing agent Herb Entwistle License #MA 9563077-RE-B
Listing office Douglas Elliman
Listing date Feb 2, 2026
Source Crexi
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 Douglas Elliman
HighLights
- New construction (2021‑2022) in a high‑demand Boston neighborhood.
- Secured garage parking for 15 vehicles.
- Condo‑quality finishes including quartz countertops and wide‑plank flooring.
- Elevator‑served, five‑story building.
- In‑unit laundry, central air, and individual HVAC systems.
- Mix of spacious two‑bedroom layouts and one 4‑bedroom residence.
Overview
The property at 33–39 Ward Street is a new-construction multifamily asset completed in 2021–2022. It is located in a supply-constrained and high-demand neighborhood of Boston. The five-story, elevator-served building features institutional-grade construction quality and modern amenities. The property consists of fourteen units, including spacious two-bedroom layouts and one four-bedroom residence. Units feature condo-quality finishes throughout, including quartz countertops, wide-plank flooring, and modern cabinetry. Each unit includes in-unit laundry, central air, and individual HVAC systems. There is secured garage parking for 15 vehicles. The modern construction and systems reduce near-term capital expenditure risk and provide predictable operating performance. The property includes two designated affordable units.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$6.19M
NOI $556,761 @ 9.00% cap · cautious / downside scenario
Moderate
$7.95M
NOI $556,761 @ 7.00% cap · market / base-case scenario
Aggressive
$11.14M
NOI $556,761 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.05M | $44.40 |
| − Vacancy | −$40.0k | −$1.69 |
| EGI | $1.01M | $42.71 |
| − OpEx | −$455.5k | −$19.22 |
| NOI | $556.8k | $23.49 |
23,700 SF · lease $44.40/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$7.95M
$6.96M – $9.28M
NOI $556,761 @ 7.0% cap · market cap 5.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$17.75M
$15.53M – $20.70M
NOI $1,242,259 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Boston
- County
- Suffolk
- State
- Massachusetts
- Longitude
- -71.0551
- Latitude
- 42.32901
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - New-construction multifamily property in high-demand Boston neighborhood.
Where is this apartment building located?
The property is located at 45 Preble St Boston, MA.
What is the asking price?
The asking price for this property is $10,490,000.
What are key features of this property?
This property features: New construction (2021‑2022) in a high‑demand Boston neighborhood.; Secured garage parking for 15 vehicles.; Condo‑quality finishes including quartz countertops and wide‑plank flooring.
