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Building Details

Year Built 1930

Buildings 1

Listing Agency: Compass

Listed By: Yoni Haiminis Show Phone

Source: Jmulkerinrealty

Added: Oct 12 Changed: Oct 15 Last Checked: Oct 14 at 10:37PM

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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 Compass

Investment Insights

Based on property information with market context.

This 1930 duplex contains two apartments, each with two bedrooms and one bathroom. Both units have open-concept kitchens and hardwood floors. The first-floor apartment includes a washer and dryer, while a separate entrance leads to a large unfinished basement with an enclosed garage. The layout also includes a patio, yard, and parking for four cars in the front and driveway.

The property is on a residential street in Revere, with access to downtown Revere and shops and restaurants on Broadway. Each apartment has potential for conversion to a three-bedroom layout.

Key Highlights

• Two apartments, each with 2 bedrooms and 1 bathroom
• 2,988‑square‑foot property built in 1930
• Open‑concept kitchens and hardwood floors in both units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,925

Cap Rate

7.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,138,500 $1.1M

Cap Rate 7%

$813,214 $813.2K

Cap Rate 9%

$632,500 $632.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,988 SF

Gross rent

$86.1K $28.80/SF

− Vacancy

−$4.7K −$1.58/SF

EGI

$81.3K $27.22/SF

− OpEx

−$24.4K −$8.16/SF

NOI

$56.9K $19.05/SF

Area

Suffolk County, MA

Vacancy

5.50%

Lease Rate

$28.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,138,500

Cap Rate 7%

$813,214

Cap Rate 9%

$632,500

Alternative Uses

Best Use

Multifamily LT 5

$813.2K

$711.6K – $948.8K (±1% cap)

NOI $56,925 @ 7.0% cap · market cap 7.92%

Second Best

Apartment 5plus

$741.5K

$648.8K – $865.1K (±1% cap)

NOI $51,905 @ 7.0% cap · market cap 7.22%

Theoretical Best

Office A

$1.77M

$1.55M – $2.06M (±1% cap)

NOI $123,822 @ 7.0% cap · market cap 17.22%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Law Firm Parking Lot & Garage (Bike/Boat/Book/etc) Store Electrical Service Garden Center Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

950

Businesses Nearby

Explore this area Business Placement

Demographics for 02151, MA

62,252

Population

23,461

Households

2.7

Avg Household Size

38

Median Age

25%

College-Educated

83%

High-School Grad

5.7 sq mi

ZIP Area

10,921

Density / Sq Mi

$80,948

Median Household Income

$43,374

Median Earnings

$1,964

Median Rent

$566,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two two-bedroom apartments feature open kitchens, hardwood floors, and separate entrances to an unfinished basement.

Where is this duplex located?

The property is located at 46 South Avenue Revere, MA.

What is the asking price?

The asking price for this property is $719,000.

What are key features of this property?

This property features: Two apartments, each with 2 bedrooms and 1 bathroom; 2,988‑square‑foot property built in 1930; Open‑concept kitchens and hardwood floors in both units