Modern Multifamily Property in
For Sale
$2,225,000
69 Greenwood St, Boston, MA 02121
Turnkey investment property near Franklin Park with high income potential.
Property Size6,775 SF
Lot Size0.12 Acres
Days on Market267
Property Features for 69 Greenwood St
General Information
Standard status
Active
Size
6,775 SF
Lot size
0.12 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$8,023
Building Details
Building Size
6,775 SF
Year Built
1920
Stories
4
Units
4
Listing Agency:
Stony Brook & Lennox Realty Advisors
(617) 905-4014
Listed By:
Markese Daise · License #449592899
(617) 905-4014
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 21 at 8:45AM
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 Stony Brook & Lennox Realty Advisors
Investment Insights
Based on property information with market context.
This multifamily property in the Boston/Dorchester area features approximately 7,000 square feet across four finished units. It presents a turnkey investment or owner-occupant opportunity with the potential to generate up to $170,000 annually in gross rents. The property includes four spacious units, with a finished lower level. It features new central air, updated plumbing and electrical systems, a new roof, siding, and gutters, as well as refinished hardwood floors. A two-car powered garage and additional parking are included. The property is centrally located near Franklin Park, a golf course, and public transit, with easy access to the Orange and Red Lines. It is also located minutes from Downtown Boston, universities, restaurants, and shops.
Key Highlights
- Almost 7,000 sq ft modern multi‑family property with 4 finished units.
- Potential to generate up to $170,000 annually in gross rents.
- Turnkey investment or owner‑occupant opportunity.**
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
$171,200
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
7.69%
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%
$3,424,000
$3.4M
Cap Rate 7%
$2,445,714
$2.4M
Cap Rate 9%
$1,902,222
$1.9M
Market Conditions
NOI Build-Up for 6,775 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
$256.1K $37.80/SF
− Vacancy
−$11.5K −$1.70/SF
EGI
$244.6K $36.10/SF
− OpEx
−$73.4K −$10.83/SF
NOI
$171.2K $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%
$3,424,000
Cap Rate 7%
$2,445,714
Cap Rate 9%
$1,902,222
Alternative Uses
Best Use
Multifamily LT 5
$2.45M
$2.14M – $2.85M
NOI $171,200 @ 7.0% cap · market cap 7.69%
Second Best
Apartment 5plus
$2.27M
$1.99M – $2.65M
NOI $159,159 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$5.07M
$4.44M – $5.92M
NOI $355,118 @ 7.0% cap · market cap 15.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,194
Businesses Nearby
Explore this area
Business Placement
Demographics for 02121, MA
28,766
Population
11,384
Households
2.5
Avg Household Size
33
Median Age
21%
College-Educated
75%
High-School Grad
1.9 sq mi
ZIP Area
15,140
Density / Sq Mi
$38,565
Median Household Income
$33,700
Median Earnings
$1,316
Median Rent
$548,100
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?
Quadplex - Turnkey investment property near Franklin Park with high income potential.
Where is this quadplex located?
The property is located at 69 Greenwood St Boston, MA.
What is the asking price?
The asking price for this property is $2,225,000.
What are key features of this property?
This property features: Almost 7,000 sq ft modern multi‑family property with 4 finished units.; Potential to generate up to $170,000 annually in gross rents.; Turnkey investment or owner‑occupant opportunity.**
