Five-Unit Mixed-Use Apartment
New
For Sale
$1,800,000
693b Dudley, Boston, MA 02125
Brick construction, updated systems, and a separate paved lot accompany the residential and commercial configuration.
Property Size4,639 SF
Price / SF$388.01
Days on Market4
Property Features for 693b Dudley
General Information
Standard status
Active
Size
4,639 SF
Property subtype
Multi-family
Units
Unit Mix
4 x 2BR
Multifamily Units
4
Additional Details
Opportunity Zone
Yes
Public Transit
Yes
Sprinkler System
Yes
Building Details
Year Built
1931
Buildings
1
Construction
brick
Listing Agency:
Yannios R E Investment Sales
Listed By:
James Yannios
(508) 287-2695
Source:
Demakis
Added: Sep 20
Changed: Sep 22
Last Checked: Sep 22 at 1:35PM
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 Yannios R E Investment Sales
Investment Insights
Based on property information with market context.
This 4,639-square-foot brick property contains five units, including four two-bedroom apartments and one commercial space. The building was gutted and rehabilitated, with updated intercoms and subpanels, newer electrical service, gas-fired heat, and newer fire sprinklers. The property was built in 1931 and includes a separate adjacent vacant paved lot.
The building is in Boston’s Upham Corner area, with commuter rail located across the street and area amenities nearby. It is situated in an opportunity zoning district. The commercial unit carries a five-year lease with two five-year renewal options. The property has been owned for 24 years and maintained in clean condition.
The building is in Boston’s Upham Corner area, with commuter rail located across the street and area amenities nearby. It is situated in an opportunity zoning district. The commercial unit carries a five-year lease with two five-year renewal options. The property has been owned for 24 years and maintained in clean condition.
Key Highlights
- Five‑unit configuration with four two‑bedroom apartments and one commercial unit
- 4,639‑square‑foot brick building constructed in 1931
- Gutted and rehabilitated with updated intercoms and electrical subpanels
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
$113,250
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
6.29%
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%
$2,265,000
$2.3M
Cap Rate 7%
$1,617,857
$1.6M
Cap Rate 9%
$1,258,333
$1.3M
Market Conditions
NOI Build-Up for 4,639 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
$194.8K $42.00/SF
− Vacancy
−$13.6K −$2.94/SF
EGI
$181.2K $39.06/SF
− OpEx
−$67.9K −$14.65/SF
NOI
$113.2K $24.41/SF
Area
Boston, MA
Vacancy
7.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,265,000
Cap Rate 7%
$1,617,857
Cap Rate 9%
$1,258,333
Alternative Uses
Best Use
Mixed Use
$1.62M
$1.42M – $1.89M
NOI $113,250 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$1.56M
$1.36M – $1.82M
NOI $108,980 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$3.47M
$3.04M – $4.05M
NOI $243,158 @ 7.0% cap · market cap 13.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,917
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick construction, updated systems, and a separate paved lot accompany the residential and commercial configuration.
Where is this apartment building located?
The property is located at 693b Dudley Boston, MA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Five‑unit configuration with four two‑bedroom apartments and one commercial unit; 4,639‑square‑foot brick building constructed in 1931; Gutted and rehabilitated with updated intercoms and electrical subpanels
