Three-Unit Residential Income
For Sale
$1,195,000
Pending
85-87 Tower St., Boston, MA 02130
Three-family rental with multiple decks and an included two-car garage plus additional off-street parking.
Property Size2,994 SF
Days on Market181
Property Features for 85-87 Tower St.
General Information
Standard status
Pending
Size
2,994 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
3F-5000
Occupancy
100%
Site & Location
Neighborhood
Jamaica Plain
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Building Size
2,994 SF
Year Built
1900
Stories
3
Listing Agency:
Arborview Realty Inc.
Listed By:
Christian Iantosca Team
(617) 543-0501
Source:
Cjbarrett
Added: Apr 28
Changed: Aug 23
Last 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.
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,656
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,513,120
$1.5M
Cap Rate 7%
$1,080,800
$1.1M
Cap Rate 9%
$840,622
$840.6K
Market Conditions
NOI Build-Up for 2,994 SF
Gross rent
$113.2K $37.80/SF
− Vacancy
−$5.1K −$1.70/SF
EGI
$108.1K $36.10/SF
− OpEx
−$32.4K −$10.83/SF
NOI
$75.7K $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 Rate 5%
$1,513,120
Cap Rate 7%
$1,080,800
Cap Rate 9%
$840,622
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 authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
673
Businesses Nearby
Explore this area
Business Placement
Demographics for 02130, MA
38,284
Population
18,802
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
94%
High-School Grad
3.5 sq mi
ZIP Area
10,938
Density / Sq Mi
$130,533
Median Household Income
$73,238
Median Earnings
$2,434
Median Rent
$763,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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
