Three-Unit Multifamily
For Sale
$2,295,000
897 East Broadway, Boston, MA 02127
Historic triplex with three-bedroom units, hardwood flooring, separate living and dining areas, and private outdoor balconies.
Property Size4,250 SF
Price / SF$540
Days on Market8
Property Features for 897 East Broadway
General Information
Standard status
Active
Size
4,250 SF
Property subtype
Multi-family
Additional Details
Road Access
Yes
Multifamily Units
3
Amenities
hardwood floors
outdoor balcony
Building Details
Year Built
1905
Listing Agency:
homecoin.com
Listed By:
Jonathan Minerick
(617) 236-0353
Source:
Thecharlesrealty
Added: Aug 26
Changed: Sep 2
Last Checked: Aug 31 at 8:15PM
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 homecoin.com
Investment Insights
Based on property information with market context.
Built in 1905, this three-unit multifamily property offers a consistent layout across each residence. Every unit includes three bedrooms, hardwood floors, distinct living and dining spaces, and an outdoor balcony. The property also has an established rental history across its units.
Located at 897 East Broadway in South Boston’s City Point, the property is near beaches, restaurants, schools, parks, and neighborhood cafes. The Seaport, Waterfront, and Downtown areas are also accessible from the site, placing a range of employment, dining, and recreational destinations within the surrounding area.
Located at 897 East Broadway in South Boston’s City Point, the property is near beaches, restaurants, schools, parks, and neighborhood cafes. The Seaport, Waterfront, and Downtown areas are also accessible from the site, placing a range of employment, dining, and recreational destinations within the surrounding area.
Key Highlights
- Three‑unit multifamily property built in 1905
- Each unit includes 3 bedrooms and an outdoor balcony
- Hardwood flooring throughout the individual units
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
$107,395
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
4.68%
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%
$2,147,900
$2.1M
Cap Rate 7%
$1,534,214
$1.5M
Cap Rate 9%
$1,193,278
$1.2M
Market Conditions
NOI Build-Up for 4,250 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
$160.7K $37.80/SF
− Vacancy
−$7.2K −$1.70/SF
EGI
$153.4K $36.10/SF
− OpEx
−$46.0K −$10.83/SF
NOI
$107.4K $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%
$2,147,900
Cap Rate 7%
$1,534,214
Cap Rate 9%
$1,193,278
Alternative Uses
Best Use
Multifamily LT 5
$1.53M
$1.34M – $1.79M
NOI $107,395 @ 7.0% cap · market cap 4.68%
Second Best
Apartment 5plus
$1.43M
$1.25M – $1.66M
NOI $99,841 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$3.18M
$2.78M – $3.71M
NOI $222,768 @ 7.0% cap · market cap 9.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,087
Businesses Nearby
Explore this area
Business Placement
Demographics for 02127, MA
37,939
Population
19,495
Households
1.9
Avg Household Size
31
Median Age
69%
College-Educated
95%
High-School Grad
2.1 sq mi
ZIP Area
18,066
Density / Sq Mi
$156,373
Median Household Income
$85,444
Median Earnings
$2,435
Median Rent
$858,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Historic triplex with three-bedroom units, hardwood flooring, separate living and dining areas, and private outdoor balconies.
Where is this triplex located?
The property is located at 897 East Broadway Boston, MA.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: Three‑unit multifamily property built in 1905; Each unit includes 3 bedrooms and an outdoor balcony; Hardwood flooring throughout the individual units
