New Construction
For Sale
$2,699,000
59 Gove St., Boston, MA 02128
Newly built four-family property with separately metered units, each featuring 2 beds, 2 baths, and mini-splits.
Property Size3,325 SF
Price / SF$811.73
Days on Market112
Property Features for 59 Gove St.
General Information
Standard status
Active
Size
3,325 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
East Boston
Additional Details
Multifamily Units
4
Building Details
Year Built
2025
Tenancy
Multi
Listing Agency:
Massachusetts Bay Realty Advisors, LLC
Listed By:
Adam Cutter · License #9510414
(617) 872-4342
Source:
Gooddeedsrealtypartners
Added: Jul 6
Changed: Oct 6
Last Checked: Oct 23 at 9:40AM
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 Massachusetts Bay Realty Advisors, LLC
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Investment Insights
Based on property information with market context.
New construction four-family (quadplex) offered for sale. The building consists of four separate residential units, each laid out as a 2-bedroom, 2-bath home. Each unit includes three mini-splits, providing individual heating and cooling. The exterior features steel rear stairs, and Unit 4 includes a private roof deck.
The property is located at 59 Gove Street in Boston, MA. All units are separately metered.
Unit 4’s private roof deck and the shared exterior access via steel rear stairs help support straightforward, independent unit living within the fourplex configuration.
The property is located at 59 Gove Street in Boston, MA. All units are separately metered.
Unit 4’s private roof deck and the shared exterior access via steel rear stairs help support straightforward, independent unit living within the fourplex configuration.
Key Highlights
- New construction four‑family property (Year Built 2025) with 4 separate units
- Each unit features 2 bedrooms and 2 bathrooms
- Units include 3 mini‑splits each
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,020
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,680,400
$1.7M
Cap Rate 7%
$1,200,286
$1.2M
Cap Rate 9%
$933,556
$933.6K
Market Conditions
NOI Build-Up for 3,325 SF
Gross rent
$125.7K $37.80/SF
− Vacancy
−$5.7K −$1.70/SF
EGI
$120.0K $36.10/SF
− OpEx
−$36.0K −$10.83/SF
NOI
$84.0K $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%
$1,680,400
Cap Rate 7%
$1,200,286
Cap Rate 9%
$933,556
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,020 @ 7.0% cap · market cap 3.11%
Second Best
Apartment 5plus
$1.12M
$976.4K – $1.30M
NOI $78,111 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$2.49M
$2.18M – $2.90M
NOI $174,283 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,878
Businesses Nearby
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Business Placement
Demographics for 02128, MA
43,066
Population
19,124
Households
2.3
Avg Household Size
33
Median Age
38%
College-Educated
77%
High-School Grad
5.0 sq mi
ZIP Area
8,613
Density / Sq Mi
$92,079
Median Household Income
$48,549
Median Earnings
$2,009
Median Rent
$680,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Newly built four-family property with separately metered units, each featuring 2 beds, 2 baths, and mini-splits.
Where is this quadplex located?
The property is located at 59 Gove St. Boston, MA.
What is the asking price?
The asking price for this property is $2,699,000.
What are key features of this property?
This property features: New construction four‑family property (Year Built 2025) with 4 separate units; Each unit features 2 bedrooms and 2 bathrooms; Units include 3 mini‑splits each
