Triplex With Renovated
New
For Sale
$1,449,000
59 Joy Street, Boston, MA 02114
Near Charles Street, Massachusetts General Hospital, and MBTA service on the Red and Green lines.
Property Size1,704 SF
Price / SF$850.35
Days on Market3
Property Features for 59 Joy Street
General Information
Standard status
Active
Size
1,704 SF
Property subtype
Multi-family
Occupancy
100%
Lease Term
[]
Units
Unit Mix
3 x 1BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Building Details
Year Built
1880
Buildings
1
Listing Agency:
Boston Realty Advisors
Listed By:
Kevin Benzinger
(617) 262-6200
Source:
Cabotandcompany
Added: Oct 4
Changed: Oct 6
Last Checked: Oct 5 at 8:05PM
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 1,704-square-foot triplex in Boston’s Beacon Hill neighborhood contains three one-bedroom apartments and was built in 1880. The building is fully occupied; one apartment has been renovated, while the other two remain unrenovated. All three units share the same layout.
The property is near Cambridge Street and Massachusetts General Hospital. Charles/MGH on the Red Line and Government Center on the Green Line are within walking distance. Charles Street, the West End, the State House, and the Financial District are also nearby.
The property is near Cambridge Street and Massachusetts General Hospital. Charles/MGH on the Red Line and Government Center on the Green Line are within walking distance. Charles Street, the West End, the State House, and the Financial District are also nearby.
Key Highlights
- Three one‑bedroom apartments in a fully occupied triplex
- 1,704 square feet; built in 1880
- One unit renovated; two units unrenovated, with the same layout across all three apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,909
Cap Rate
3.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$938,180
$938.2K
Cap Rate 7%
$670,129
$670.1K
Cap Rate 9%
$521,211
$521.2K
Market Conditions
NOI Build-Up for 1,704 SF
Gross rent
$69.5K $40.80/SF
− Vacancy
−$2.5K −$1.47/SF
EGI
$67.0K $39.33/SF
− OpEx
−$20.1K −$11.80/SF
NOI
$46.9K $27.53/SF
Area
ZIP 02114
Vacancy
3.61%
Lease Rate
$40.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$938,180
Cap Rate 7%
$670,129
Cap Rate 9%
$521,211
Alternative Uses
Best Use
Multifamily LT 5
$670.1K
$586.4K – $781.8K
NOI $46,909 @ 7.0% cap · market cap 3.24%
Second Best
Apartment 5plus
$618.2K
$541.0K – $721.3K
NOI $43,276 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$886.5K
$775.7K – $1.03M
NOI $62,056 @ 7.0% cap · market cap 4.28%
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
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
24,234
Businesses Nearby
Explore this area
Business Placement
Demographics for 02114, MA
14,469
Population
9,525
Households
1.5
Avg Household Size
33
Median Age
84%
College-Educated
97%
High-School Grad
0.4 sq mi
ZIP Area
36,173
Density / Sq Mi
$135,057
Median Household Income
$94,465
Median Earnings
$2,933
Median Rent
$927,900
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
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Frequently Asked Questions
What type of property is this?
Triplex - Near Charles Street, Massachusetts General Hospital, and MBTA service on the Red and Green lines.
Where is this triplex located?
The property is located at 59 Joy Street Boston, MA.
What is the asking price?
The asking price for this property is $1,449,000.
What are key features of this property?
This property features: Three one‑bedroom apartments in a fully occupied triplex; 1,704 square feet; built in 1880; One unit renovated; two units unrenovated, with the same layout across all three apartments
