Three-Unit Multifamily
New
For Sale
$1,199,000
6 Harvard Park, Boston, MA 02124
Three residential units offer consistent layouts, private front decks, and a basement with possible future expansion.
Property Size3,663 SF
Days on Market2
Property Features for 6 Harvard Park
General Information
Standard status
Active
Size
3,663 SF
Property subtype
Multifamily
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Additional Details
Gross Income
$94,808
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$12,180
Amenities
front decks
Building Details
Building Size
3,663 SF
Year Built
1925
Listing Agency:
Boston Realty Sales & Services
Listed By:
Beth Dailey
(617) 283-8860
Source:
Classifiedrealtygroup
Added: Sep 13
Last Checked: Sep 13 at 2:45PM
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 Sales & Services
Investment Insights
Based on property information with market context.
Built in 1925, this three-unit residential property at 6 Harvard Park includes approximately 5,000+ gross square feet and more than 3,600 livable square feet. Each apartment has three bedrooms, one full bathroom, an eat-in kitchen, a living room, and practical room proportions, with a front deck serving each unit. Delead certificates are in place for all three residences.
The basement may support an accessory dwelling unit, subject to applicable City of Boston approvals. The property sits on a quiet dead-end street near public transportation, with ample street parking available for tenants. Its Dorchester Center location and established three-unit configuration provide a straightforward multifamily layout with additional basement utility.
The basement may support an accessory dwelling unit, subject to applicable City of Boston approvals. The property sits on a quiet dead-end street near public transportation, with ample street parking available for tenants. Its Dorchester Center location and established three-unit configuration provide a straightforward multifamily layout with additional basement utility.
Key Highlights
- Three‑unit property with approximately 5,000+ gross square feet
- More than 3,600 livable square feet
- Each unit includes 3 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$92,561
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,851,220
$1.9M
Cap Rate 7%
$1,322,300
$1.3M
Cap Rate 9%
$1,028,456
$1.0M
Market Conditions
NOI Build-Up for 3,663 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$138.5K $37.80/SF
− Vacancy
−$6.2K −$1.70/SF
EGI
$132.2K $36.10/SF
− OpEx
−$39.7K −$10.83/SF
NOI
$92.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,851,220
Cap Rate 7%
$1,322,300
Cap Rate 9%
$1,028,456
Alternative Uses
Best Use
Multifamily LT 5
$1.32M
$1.16M – $1.54M
NOI $92,561 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.43M
NOI $86,051 @ 7.0% cap · market cap 7.18%
Theoretical Best
Office A
$2.74M
$2.40M – $3.20M
NOI $192,000 @ 7.0% cap · market cap 16.01%
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
Location Intelligence
Trade Area within ½ mile
1,521
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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Cap Rate, Value Estimation, Potential NOI and more
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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 residential units offer consistent layouts, private front decks, and a basement with possible future expansion.
Where is this triplex located?
The property is located at 6 Harvard Park Boston, MA.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: Three‑unit property with approximately 5,000+ gross square feet; More than 3,600 livable square feet; Each unit includes 3 bedrooms and 1 full bathroom
