Four-Unit Multifamily
New
For Sale
$2,449,900
510 E Broadway, Boston, MA 02127
All four residences are leased, and the property underwent renovations in 2020.
Property Size3,435 SF
Price / SF$713.22
Days on Market2
Property Features for 510 E Broadway
General Information
Standard status
Active
Size
3,435 SF
Property subtype
Multifamily
Occupancy
100%
Site & Location
Neighborhood
South Boston
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Gross Income
$186,300
Multifamily Units
4
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$18,399
Building Details
Building Size
3,435 SF
Year Built
1935
Year Renovated
2020
Buildings
1
Listing Agency:
EVO Real Estate Group, LLC
Listed By:
Cristofer Aguirre
(617) 866-7435
Source:
Classifiedrealtygroup
Added: Oct 28
Last Checked: Oct 28 at 3:50PM
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 EVO Real Estate Group, LLC
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Investment Insights
Based on property information with market context.
This four-unit multifamily property contains approximately 3,435 square feet of living area. Built in 1935, it was renovated in 2020 and is fully leased. The reported cap rate is approaching 6%.
Located at 510 E Broadway in Boston, the property is near the Seaport District, Downtown Boston, the Financial District, South Boston Waterfront, Castle Island, Carson Beach, and the South End. I-93, I-90, and public transportation provide area connections.
Located at 510 E Broadway in Boston, the property is near the Seaport District, Downtown Boston, the Financial District, South Boston Waterfront, Castle Island, Carson Beach, and the South End. I-93, I-90, and public transportation provide area connections.
Key Highlights
- Four residential units; all are leased
- Approximately 3,435 square feet of living space
- Renovated in 2020; built in 1935
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$86,800
Cap Rate
3.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,736,000
$1.7M
Cap Rate 7%
$1,240,000
$1.2M
Cap Rate 9%
$964,444
$964.4K
Market Conditions
NOI Build-Up for 3,435 SF
Gross rent
$129.8K $37.80/SF
− Vacancy
−$5.8K −$1.70/SF
EGI
$124.0K $36.10/SF
− OpEx
−$37.2K −$10.83/SF
NOI
$86.8K $25.27/SF
Area
Boston, MA
Vacancy
4.50%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,736,000
Cap Rate 7%
$1,240,000
Cap Rate 9%
$964,444
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.09M – $1.45M
NOI $86,800 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,695 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $180,049 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,052
Businesses Nearby
Explore this area
Business Placement
Demographics for 02127, MA
37,939
Population
19,495
Households
1.9
Avg Household Size
31
Median Age
69%
College-Educated
95%
High-School Grad
2.1 sq mi
ZIP Area
18,066
Density / Sq Mi
$156,373
Median Household Income
$85,444
Median Earnings
$2,435
Median Rent
$858,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - All four residences are leased, and the property underwent renovations in 2020.
Where is this quadplex located?
The property is located at 510 E Broadway Boston, MA.
What is the asking price?
The asking price for this property is $2,449,900.
What are key features of this property?
This property features: Four residential units; all are leased; Approximately 3,435 square feet of living space; Renovated in 2020; built in 1935
