Turnkey Multifamily Apartment
473 Revere Beach Parkway Revere, MA 02151
473 Revere Beach Parkway, Revere, MA, 02151
$3,250,000
For Sale
$3,250,000
Turnkey multifamily building with eight modern two-bedroom units, elevator access, and in-unit laundry.
Property Size10,534 SF
Price / SF$308.52
Days on Market182
Property Features for 473 Revere Beach Parkway
General Information
- Standard status
- Active
- Size
- 10,534 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 2014
Listing agency
Northeast Private Client Group,LLC
Listed by
Francis Saenz
(617) 396-3100
Source
Longwoodresidential
Added: Jan 21 Updated: Jul 20 at 7:21PM Checked: Jul 21 at 7:16AM
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 Northeast Private Client Group,LLC
Investment Insights
Based on property information with market context.
Turnkey multifamily apartment building featuring eight modern two-bedroom, 1-bath units. Each unit offers contemporary finishes and open concept living/dining/kitchen layouts. Kitchens include eat-in spaces, breakfast bars, and island/peninsula configurations, and both kitchen and bathroom areas have programmable underfloor warming systems. Additional in-unit features include laundry, ceiling fans, and video intercom systems, with central heat and A/C throughout. The property also provides elevator access.
Strong transit connectivity is supported by multiple MBTA bus routes at the doorstep, with the Blue Line (Revere Beach Station) within walking distance.
This is an 8-unit residential income property offered for sale.
Strong transit connectivity is supported by multiple MBTA bus routes at the doorstep, with the Blue Line (Revere Beach Station) within walking distance.
This is an 8-unit residential income property offered for sale.
Key Highlights
- 2014‑built multifamily building at 473 Revere Beach Pkwy with eight modern 2‑bedroom, 1‑bath units
- Each unit is approximately 1,050 SF and features bamboo flooring, ceiling fans, and open‑concept living/dining/kitchen
- Kitchens include eat‑in spaces, breakfast bars, and island/peninsula layouts, plus programmable underfloor warming systems in kitchen and bathroom
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $353.9k | $33.60 |
| − Vacancy | −$21.2k | −$2.02 |
| EGI | $332.7k | $31.58 |
| − OpEx | −$149.7k | −$14.21 |
| NOI | $183.0k | $17.37 |
10,534 SF · lease $33.60/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.61M
$2.29M – $3.05M
NOI $182,988 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.24M
$5.46M – $7.28M
NOI $436,526 @ 7.0% cap · market cap 13.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
1031 exchange properties
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Turnkey multifamily building with eight modern two-bedroom units, elevator access, and in-unit laundry.
Where is this apartment building located?
The property is located at 473 Revere Beach Parkway Revere, MA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: 2014‑built multifamily building at 473 Revere Beach Pkwy with eight modern 2‑bedroom, 1‑bath units; Each unit is approximately 1,050 SF and features bamboo flooring, ceiling fans, and open‑concept living/dining/kitchen; Kitchens include eat‑in spaces, breakfast bars, and island/peninsula layouts, plus programmable underfloor warming systems in kitchen and bathroom
