Six-Unit Apartment
59 Lubec, Boston, MA 02128
For Sale
$2,249,000
A varied bedroom mix is in place, with the apartments leased through fall 2026.
Property Size4,590 SF
Price / SF$489.98
Days on Market12
Property Features for 59 Lubec
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Year Built
Buildings
Listing Agency:
Marcus & Millichap Real Estate Investment Services
Listed By:
Evan Griffith · License #(S):MA:9521845
(617) 896-7221
Source:
Jbarrettrealty
Added: Oct 27
Changed: Nov 6
Last Checked: Nov 6 at 10:09AM
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 Marcus & Millichap Real Estate Investment Services
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Investment Insights
Based on property information with market context.
This 4,590-square-foot apartment building, constructed in 1905, contains six units: one three-bedroom/one-bathroom apartment, two two-bedroom/one-bathroom apartments, and three one-bedroom/one-bathroom apartments. The units are leased through fall 2026.
The property is a short walk from Maverick Square on the MBTA Blue Line. Downtown Boston, the North End, the Financial District, and the Seaport are also identified as accessible destinations.
The property is a short walk from Maverick Square on the MBTA Blue Line. Downtown Boston, the North End, the Financial District, and the Seaport are also identified as accessible destinations.
Key Highlights
- Six apartments: one 3‑bedroom/1‑bathroom, two 2‑bedroom/1‑bathroom, and three 1‑bedroom/1‑bathroom units
- Leased through fall 2026
- 4,590 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$107,828
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,156,560
$2.2M
Cap Rate 7%
$1,540,400
$1.5M
Cap Rate 9%
$1,198,089
$1.2M
Market Conditions
NOI Build-Up for 4,590 SF
Gross rent
$203.8K $44.40/SF
− Vacancy
−$7.7K −$1.69/SF
EGI
$196.1K $42.71/SF
− OpEx
−$88.2K −$19.22/SF
NOI
$107.8K $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%
$2,156,560
Cap Rate 7%
$1,540,400
Cap Rate 9%
$1,198,089
Alternative Uses
Best Use
Apartment 5plus
$1.54M
$1.35M – $1.80M
NOI $107,828 @ 7.0% cap · market cap 4.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.44M
$3.01M – $4.01M
NOI $240,589 @ 7.0% cap · market cap 10.70%
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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Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,966
Businesses Nearby
Explore this area
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
$680,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Boston, MA
Properties on Market for Apartment buildings in Boston
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - A varied bedroom mix is in place, with the apartments leased through fall 2026.
Where is this apartment building located?
The property is located at 59 Lubec Boston, MA.
What is the asking price?
The asking price for this property is $2,249,000.
What are key features of this property?
This property features: Six apartments: one 3‑bedroom/1‑bathroom, two 2‑bedroom/1‑bathroom, and three 1‑bedroom/1‑bathroom units; Leased through fall 2026; 4,590 square feet
