Three-Unit Residential Income
85-87 Tower St. Boston, MA 02130
85-87 Tower St., Boston, MA, 02130
$1,195,000
Pending
For Sale
$1,195,000
Pending
Three-family rental with multiple decks and an included two-car garage plus additional off-street parking.
Property Size2,994 SF
Days on Market87
Property Features for 85-87 Tower St.
General Information
- Standard status
- Pending
- Size
- 2,994 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1900
Listing agency
Arborview Realty Inc.
(617) 543-0501
Listed by
Christian Iantosca Team
Source
Gundersheimgroup
Added: Apr 28 Updated: Jul 21 at 7:28AM Checked: Jul 21 at 7:28AM
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 Arborview Realty Inc.
Investment Insights
Based on property information with market context.
This three-unit residential income property features high ceilings, bay windows, and natural woodwork throughout. Units have been set up as TAW, and the property includes de-lead compliance letters. Units 1 and 2 offer back decks overlooking the yard.
The property is sited next to an entry gate and trail at Forest Hills Cemetery. It is described as a peaceful, park-like setting, and the access is identified as the last house on a closed-end street that abuts the gate and trail.
The property includes a two-car garage and parking for approximately two to three vehicles. The public remarks also note many recent updates and describe the property as being fully rented at the time of listing, with options discussed for delivery with tenants or vacancy for an owner occupant.
The property is sited next to an entry gate and trail at Forest Hills Cemetery. It is described as a peaceful, park-like setting, and the access is identified as the last house on a closed-end street that abuts the gate and trail.
The property includes a two-car garage and parking for approximately two to three vehicles. The public remarks also note many recent updates and describe the property as being fully rented at the time of listing, with options discussed for delivery with tenants or vacancy for an owner occupant.
Key Highlights
- 3‑family rental fully rented with $7,800/month in rental income
- All units are TAW and include de‑lead compliance letters
- Year built 1900 with wood flooring, natural woodwork, high ceilings, and bay windows
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $113.2k | $37.80 |
| − Vacancy | −$5.1k | −$1.70 |
| EGI | $108.1k | $36.10 |
| − OpEx | −$32.4k | −$10.83 |
| NOI | $75.7k | $25.27 |
2,994 SF · lease $37.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$945.7K – $1.26M
NOI $75,656 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$1.00M
$879.2K – $1.17M
NOI $70,335 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$2.24M
$1.96M – $2.62M
NOI $156,934 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-family rental with multiple decks and an included two-car garage plus additional off-street parking.
Where is this triplex located?
The property is located at 85-87 Tower St. Boston, MA.
What is the asking price?
The asking price for this property is $1,195,000.
What are key features of this property?
This property features: 3‑family rental fully rented with $7,800/month in rental income; All units are TAW and include de‑lead compliance letters; Year built 1900 with wood flooring, natural woodwork, high ceilings, and bay windows
