Mattapan Multifamily Investment
640 River Street Boston, MA 02126
For Sale
$1,650,000
Multifamily property in Mattapan with rent growth potential.
Property Size5,448 SF
Price / SF$302.86
Days on Market250
Property Features for 640 River Street
General Information
Standard status
Active
Size
5,448 SF
Property subtype
Multi-family
Building Details
Year Built
1920
Listing Agency:
Boston Realty Advisors
Listed By:
Kevin Benzinger
Source:
Stevebremis
Added: Nov 20, 2025
Changed: Jul 10
Last Checked: Jul 27 at 10:50AM
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 multifamily property is located in Mattapan, Massachusetts. The building consists of six units, each featuring two bedrooms and one bathroom. The units have layouts that maximize space. The property is positioned for rent growth through in-unit upgrades and releasing. The building's location in Mattapan, a dynamic residential community, provides convenient access to downtown Boston and surrounding areas via the Mattapan Line, multiple bus routes, and Blue Hill Avenue. The property is situated in a walkable environment with access to local dining, retail, and community amenities. The property size is 5,448 square feet.
Key Highlights
- Multifamily property featuring six 2‑bedroom/1‑bathroom units.
- Positioned for rent growth through in‑unit upgrades and releasing.
- Convenient access to downtown Boston via the Mattapan Line, bus routes, and Blue Hill Avenue.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $241.9k | $44.40 |
| − Vacancy | −$9.2k | −$1.69 |
| EGI | $232.7k | $42.71 |
| − OpEx | −$104.7k | −$19.22 |
| NOI | $128.0k | $23.49 |
5,448 SF · lease $44.40/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.83M
$1.60M – $2.13M
NOI $127,985 @ 7.0% cap · market cap 7.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.08M
$3.57M – $4.76M
NOI $285,562 @ 7.0% cap · market cap 17.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property in Mattapan with rent growth potential.
Where is this apartment building located?
The property is located at 640 River Street Boston, MA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Multifamily property featuring six 2‑bedroom/1‑bathroom units.; Positioned for rent growth through in‑unit upgrades and releasing.; Convenient access to downtown Boston via the Mattapan Line, bus routes, and Blue Hill Avenue.
