Three-Family Residential
For Sale
$1,075,000
55 Spencer St, Boston, MA 02124
Three updated units in a well-maintained triplex, with Unit 2 and Unit 3 delivered vacant.
Property Size4,080 SF
Price / SF$263.48
Days on Market109
Property Features for 55 Spencer St
General Information
Standard status
Active
Size
4,080 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
Boston Realty Advisors
Listed By:
Daniel Alper · License #CN254381
(617) 768-7333
Source:
Gooddeedsrealtypartners
Added: Jun 20
Changed: Oct 6
Last Checked: Oct 5 at 9:16PM
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 Boston Realty Advisors
Investment Insights
Based on property information with market context.
This three-family residential building offers three generously sized units in a well-maintained structure. The property is described as featuring three thoughtfully updated units, providing a straightforward setup for an owner-occupant or investor. Unit 2 and Unit 3 will be delivered vacant, while the remaining unit can support immediate income from day one.
The property is located at 55 Spencer St in Boston’s Dorchester area. It is positioned for access to Talbot Ave Station and Interstate 93, supporting convenient travel to downtown Boston and surrounding neighborhoods. Mobility metrics provided for the area include a walk score of 84 (Very Walkable), a transit score of 74 (Excellent Transit), and a bike score of 59 (Bikeable).
For buyers seeking a multi-family setup with some flexibility, the vacancy of Unit 2 and Unit 3 can simplify an owner-occupant strategy or future occupancy planning. With three updated units already in place, this triplex can also appeal to investors looking to own a residential income property with an operational foundation and clear unit availability at closing.
The property is located at 55 Spencer St in Boston’s Dorchester area. It is positioned for access to Talbot Ave Station and Interstate 93, supporting convenient travel to downtown Boston and surrounding neighborhoods. Mobility metrics provided for the area include a walk score of 84 (Very Walkable), a transit score of 74 (Excellent Transit), and a bike score of 59 (Bikeable).
For buyers seeking a multi-family setup with some flexibility, the vacancy of Unit 2 and Unit 3 can simplify an owner-occupant strategy or future occupancy planning. With three updated units already in place, this triplex can also appeal to investors looking to own a residential income property with an operational foundation and clear unit availability at closing.
Key Highlights
- 1910‑built three‑family (triplex) with three updated units
- Unit 2 and Unit 3 will be delivered vacant
- Well‑maintained property with two units available as potential rental income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,848
Cap Rate
8.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,916,960
$1.9M
Cap Rate 7%
$1,369,257
$1.4M
Cap Rate 9%
$1,064,978
$1.1M
Market Conditions
NOI Build-Up for 4,080 SF
Gross rent
$181.2K $44.40/SF
− Vacancy
−$6.9K −$1.69/SF
EGI
$174.3K $42.71/SF
− OpEx
−$78.4K −$19.22/SF
NOI
$95.8K $23.49/SF
Area
Boston, MA
Vacancy
3.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,916,960
Cap Rate 7%
$1,369,257
Cap Rate 9%
$1,064,978
Alternative Uses
Best Use
Multifamily LT 5
$1.47M
$1.29M – $1.72M
NOI $103,099 @ 7.0% cap · market cap 9.59%
Second Best
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $95,848 @ 7.0% cap · market cap 8.92%
Theoretical Best
Office A
$3.06M
$2.67M – $3.56M
NOI $213,857 @ 7.0% cap · market cap 19.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,556
Businesses Nearby
Explore this area
Business Placement
Demographics for 02124, MA
50,972
Population
21,264
Households
2.4
Avg Household Size
36
Median Age
31%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
16,991
Density / Sq Mi
$79,168
Median Household Income
$43,483
Median Earnings
$1,783
Median Rent
$607,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three updated units in a well-maintained triplex, with Unit 2 and Unit 3 delivered vacant.
Where is this triplex located?
The property is located at 55 Spencer St Boston, MA.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: 1910‑built three‑family (triplex) with three updated units; Unit 2 and Unit 3 will be delivered vacant; Well‑maintained property with two units available as potential rental income
