Renovated Triplex With In-Unit
For Sale
$2,100,000
65 Lambert Avenue, Boston, MA 02119
R3-zoned multifamily property with updated interiors, central air, private laundry, and access to a fenced yard and patio.
Property Size4,020 SF
Price / SF$522.39
Days on Market239
Property Features for 65 Lambert Avenue
General Information
Standard status
Active
Size
4,020 SF
Property subtype
Multi-family / 3 Family - 3 Units Up/Down
Zoning
R3
Net Operating Income
$144,600
Additional Details
Gross Income
$157,800
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$12,197
Amenities
updated kitchens
updated bathrooms
stainless steel appliances
central air
in-unit laundry
No
Wood
6.0
Walk Out, Unfinished Basement
6
6.00
Fenced/Enclosed, Fenced
Rubber
Fenced Yard, Patio
Patio
Building Details
Year Built
1905
Listing Agency:
CityRoots Realty LLC
(315) 944-7440
Listed By:
Chloe Tassone · License #9586485
(315) 944-7440
Source:
Compass
Added: Jan 5
Changed: Aug 31
Last Checked: Aug 30 at 2:30AM
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 CityRoots Realty LLC
Investment Insights
Based on property information with market context.
This 4,020-square-foot triplex, built in 1905, has been renovated throughout and contains three residential units. Each unit includes an updated kitchen and bathroom, stainless steel appliances, central air conditioning, and in-unit laundry. The layouts provide two full bathrooms per unit, while the property also offers a walk-out unfinished basement, wood interior features, and a fenced yard with patio space.
The property is located in Fort Hill near public transportation, NEU, Wentworth, Roxbury CC, major medical centers, and neighborhood amenities. R3 zoning and permitted street parking are additional property details. The renovation and unit configuration provide a defined multifamily format with several building features already in place.
The property is located in Fort Hill near public transportation, NEU, Wentworth, Roxbury CC, major medical centers, and neighborhood amenities. R3 zoning and permitted street parking are additional property details. The renovation and unit configuration provide a defined multifamily format with several building features already in place.
Key Highlights
- Three‑unit multifamily property with 4,020 SF of building area
- Renovated throughout; built in 1905
- Each unit has updated kitchens, bathrooms, stainless steel appliances, central air, and in‑unit laundry
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
$101,583
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
4.84%
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%
$2,031,660
$2.0M
Cap Rate 7%
$1,451,186
$1.5M
Cap Rate 9%
$1,128,700
$1.1M
Market Conditions
NOI Build-Up for 4,020 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
$152.0K $37.80/SF
− Vacancy
−$6.8K −$1.70/SF
EGI
$145.1K $36.10/SF
− OpEx
−$43.5K −$10.83/SF
NOI
$101.6K $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%
$2,031,660
Cap Rate 7%
$1,451,186
Cap Rate 9%
$1,128,700
Alternative Uses
Best Use
Multifamily LT 5
$1.45M
$1.27M – $1.69M
NOI $101,583 @ 7.0% cap · market cap 4.84%
Second Best
Apartment 5plus
$1.35M
$1.18M – $1.57M
NOI $94,438 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$3.01M
$2.63M – $3.51M
NOI $210,712 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,871
Businesses Nearby
Explore this area
Business Placement
Demographics for 02119, MA
29,175
Population
12,937
Households
2.3
Avg Household Size
34
Median Age
30%
College-Educated
81%
High-School Grad
1.6 sq mi
ZIP Area
18,234
Density / Sq Mi
$43,255
Median Household Income
$38,664
Median Earnings
$1,252
Median Rent
$668,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - R3-zoned multifamily property with updated interiors, central air, private laundry, and access to a fenced yard and patio.
Where is this triplex located?
The property is located at 65 Lambert Avenue Boston, MA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Three‑unit multifamily property with 4,020 SF of building area; Renovated throughout; built in 1905; Each unit has updated kitchens, bathrooms, stainless steel appliances, central air, and in‑unit laundry
