New Multifamily Property in
For Sale
Contact for pricing
Pending
70 Rockland St, Boston, MA 02119
Newly constructed multifamily property in a rapidly evolving Boston neighborhood.
Property Size4,789 SF
Days on Market208
Property Features for 70 Rockland St
General Information
Standard status
Pending
Size
4,789 SF
Property subtype
Multifamily
Building Details
Units
3
Listing Agency:
Boston Realty Advisors
(617) 375-7900
Listed By:
Kevin Benzinger · License #MA
Source:
Crexi
Added: Jan 26
Changed: Aug 19
Last Checked: Aug 21 at 9:23AM
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 newly constructed multifamily property is located in Roxbury, Massachusetts. The property features two 4-bedroom, 1.5-bathroom units and one 3-bedroom, 1.5-bathroom unit. The units are fully vacant and offer turn-key living. The property is positioned in Roxbury, benefiting from proximity to Nubian Square and immediate access to multiple MBTA bus routes. It also provides easy connections to the Longwood Medical Area, Downtown Boston, and Back Bay. Roxbury has emerged as a dynamic and in-demand residential community, attracting new residents, families, and young professionals seeking high-quality housing with convenient access to both community amenities and major employment hubs. The property size is 4789 square feet and is positioned to capture strong rents.
Key Highlights
- Newly constructed, fully vacant multifamily property offering turn‑key living.
- Located in Roxbury, a rapidly evolving and in‑demand residential neighborhood.
- Consists of two 4‑bedroom / 1.5‑bathroom units and one 3‑bedroom / 1.5‑bathroom unit.
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
$112,503
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
6.62%
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%
$2,250,060
$2.3M
Cap Rate 7%
$1,607,186
$1.6M
Cap Rate 9%
$1,250,033
$1.3M
Market Conditions
NOI Build-Up for 4,789 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
$212.6K $44.40/SF
− Vacancy
−$8.1K −$1.69/SF
EGI
$204.6K $42.71/SF
− OpEx
−$92.0K −$19.22/SF
NOI
$112.5K $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%
$2,250,060
Cap Rate 7%
$1,607,186
Cap Rate 9%
$1,250,033
Alternative Uses
Best Use
Apartment 5plus
$1.61M
$1.41M – $1.88M
NOI $112,503 @ 7.0% cap · market cap 6.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.59M
$3.14M – $4.18M
NOI $251,020 @ 7.0% cap · market cap 14.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,647
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?
Apartment building - Newly constructed multifamily property in a rapidly evolving Boston neighborhood.
Where is this apartment building located?
The property is located at 70 Rockland St Boston, MA.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Newly constructed, fully vacant multifamily property offering turn‑key living.; Located in Roxbury, a rapidly evolving and in‑demand residential neighborhood.; Consists of two 4‑bedroom / 1.5‑bathroom units and one 3‑bedroom / 1.5‑bathroom unit.
