Turnkey Two-Building
For Sale
$3,149,000
66-66r Stanley Street, Boston, MA 02125
Two-building multifamily with five total units, in-unit laundry, central HVAC, and 8+ off-street parking spaces.
Property Size5,945 SF
Price / SF$529.69
Days on Market166
Property Features for 66-66r Stanley Street
General Information
Standard status
Active
Size
5,945 SF
Total Parking Spaces
8
Property subtype
Multi-family
Additional Details
Multifamily Units
5
Amenities
in-unit laundry
tankless hot water
recessed lighting
new windows
hardwood floors
quartz countertops
stainless steel appliances
slab quartz backsplashes
central HVAC
private deck
patio
basement storage
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Seaport Realty Group
Listed By:
Tara Dynan
(617) 420-9033
Source:
Sredboston
Added: Mar 25
Changed: Sep 5
Last Checked: Sep 5 at 8:53AM
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 Seaport Realty Group
Investment Insights
Based on property information with market context.
This for-sale multifamily offering features two buildings on a quiet cul-de-sac, providing five total units and 8+ off-street parking spaces. The front building has been fully gut-renovated and delivers modern interiors across all units, each with two full baths, brand new central HVAC, in-unit laundry, and tankless hot water. Finishes include recessed lighting, new windows, hardwood floors, and updated kitchens with quartz countertops, stainless steel appliances, and slab quartz backsplashes. Unit 3 includes a private deck, and Unit 1 offers a patio, with additional basement storage available.
The rear building adds two additional updated units with a wraparound porch. Interiors feature updated countertops and appliances, complementing the refreshed look throughout the property.
Located at 66-66r Stanley Street in Boston, this is presented as a turnkey opportunity for immediate occupancy or portfolio expansion.
The rear building adds two additional updated units with a wraparound porch. Interiors feature updated countertops and appliances, complementing the refreshed look throughout the property.
Located at 66-66r Stanley Street in Boston, this is presented as a turnkey opportunity for immediate occupancy or portfolio expansion.
Key Highlights
- Two‑building multifamily with five total units on a quiet cul‑de‑sac
- Fully gut‑renovated front building with modern finishes and multiple updated unit features
- Each unit has two full baths, in‑unit laundry, and tankless hot water systems
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
$139,660
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
4.44%
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%
$2,793,200
$2.8M
Cap Rate 7%
$1,995,143
$2.0M
Cap Rate 9%
$1,551,778
$1.6M
Market Conditions
NOI Build-Up for 5,945 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
$264.0K $44.40/SF
− Vacancy
−$10.0K −$1.69/SF
EGI
$253.9K $42.71/SF
− OpEx
−$114.3K −$19.22/SF
NOI
$139.7K $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 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%
$2,793,200
Cap Rate 7%
$1,995,143
Cap Rate 9%
$1,551,778
Alternative Uses
Best Use
Apartment 5plus
$2.00M
$1.75M – $2.33M
NOI $139,660 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.45M
$3.90M – $5.19M
NOI $311,613 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,946
Businesses Nearby
Explore this area
Business Placement
Demographics for 02125, MA
34,926
Population
14,999
Households
2.3
Avg Household Size
32
Median Age
42%
College-Educated
87%
High-School Grad
2.2 sq mi
ZIP Area
15,875
Density / Sq Mi
$71,810
Median Household Income
$52,106
Median Earnings
$1,897
Median Rent
$645,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-building multifamily with five total units, in-unit laundry, central HVAC, and 8+ off-street parking spaces.
Where is this apartment building located?
The property is located at 66-66r Stanley Street Boston, MA.
What is the asking price?
The asking price for this property is $3,149,000.
What are key features of this property?
This property features: Two‑building multifamily with five total units on a quiet cul‑de‑sac; Fully gut‑renovated front building with modern finishes and multiple updated unit features; Each unit has two full baths, in‑unit laundry, and tankless hot water systems
