Multifamily Building with Walk-Out
New
For Sale
$1,299,999
45 Thorndike, Boston, MA 02118
An unfinished, walk-out lower level adds utility to this residential income property.
Property Size2,628 SF
Price / SF$494.67
Days on Market4
Property Features for 45 Thorndike
General Information
Standard status
Active
Size
2,628 SF
Property subtype
3 Family - 3 Units Up/Down
Site & Location
Neighborhood
South End
Building Details
Building Size
2,628 SF
Year Built
1900
Listing Agency:
Vitruvius Realty
Listed By:
Jason G. Mahoney Esq.
(617) 839-2093
Source:
Iverty
Added: Oct 26
Changed: Oct 29
Last Checked: Oct 28 at 6:12AM
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 Vitruvius Realty
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Investment Insights
Based on property information with market context.
This multifamily property was built in 1900 and contains 2,628 square feet. Interior features include a full, walk-out basement that is unfinished.
Key Highlights
- 2,628 square feet
- Built in 1900
- Full, unfinished walk‑out basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,379
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$807,580
$807.6K
Cap Rate 7%
$576,843
$576.8K
Cap Rate 9%
$448,656
$448.7K
Market Conditions
NOI Build-Up for 2,628 SF
Gross rent
$76.3K $29.04/SF
− Vacancy
−$2.9K −$1.10/SF
EGI
$73.4K $27.94/SF
− OpEx
−$33.0K −$12.57/SF
NOI
$40.4K $15.37/SF
Area
ZIP 02118
Vacancy
3.80%
Lease Rate
$29.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$807,580
Cap Rate 7%
$576,843
Cap Rate 9%
$448,656
Alternative Uses
Best Use
Apartment 5plus
$576.8K
$504.7K – $673.0K
NOI $40,379 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.97M
$1.73M – $2.30M
NOI $138,241 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
6,706
Businesses Nearby
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Business Placement
Demographics for 02118, MA
29,073
Population
15,554
Households
1.9
Avg Household Size
36
Median Age
58%
College-Educated
87%
High-School Grad
1.1 sq mi
ZIP Area
26,430
Density / Sq Mi
$90,142
Median Household Income
$73,110
Median Earnings
$1,748
Median Rent
$1,029,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - An unfinished, walk-out lower level adds utility to this residential income property.
Where is this multifamily property located?
The property is located at 45 Thorndike Boston, MA.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: 2,628 square feet; Built in 1900; Full, unfinished walk‑out basement
