R3-Zoned Multifamily
For Sale
$1,200,000
9 Forbes St, Boston, MA 02130
Jamaica Plain property near parks, restaurants, shopping, public transportation, and local amenities.
Property Size3,789 SF
Price / SF$316.71
Days on Market124
Property Features for 9 Forbes St
General Information
Standard status
Active
Size
3,789 SF
Property subtype
Multi-Family
Zoning
R3
Net Operating Income
$82,800
Taxes and HOA fees
Annual Taxes
$16,667
Building Details
Building Size
3,789 SF
Year Built
1890
Stories
3
Listing Agency:
Prime Time Realty Group, Inc.
(508) 587-0017
Listed By:
Jack Silverstein
(508) 246-7969
Source:
Churchillprop
Added: Jun 19
Changed: Oct 6
Last Checked: Oct 19 at 5:23AM
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 Prime Time Realty Group, Inc.
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Investment Insights
Based on property information with market context.
Located at 9 Forbes St in Boston’s Jamaica Plain neighborhood, this multifamily property provides 3,789 square feet of residential space within an established urban setting. The building dates to 1890 and is situated in an R3 zoning district.
The property offers access to Jamaica Plain’s parks, restaurants, shopping, public transportation, and other local amenities. Downtown Boston is also described as being just minutes away, adding convenient connectivity to the city center.
The property offers access to Jamaica Plain’s parks, restaurants, shopping, public transportation, and other local amenities. Downtown Boston is also described as being just minutes away, adding convenient connectivity to the city center.
Key Highlights
- 3,789‑square‑foot multifamily property
- Built in 1890
- R3 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,011
Cap Rate
7.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,780,220
$1.8M
Cap Rate 7%
$1,271,586
$1.3M
Cap Rate 9%
$989,011
$989.0K
Market Conditions
NOI Build-Up for 3,789 SF
Gross rent
$168.2K $44.40/SF
− Vacancy
−$6.4K −$1.69/SF
EGI
$161.8K $42.71/SF
− OpEx
−$72.8K −$19.22/SF
NOI
$89.0K $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 Rate 5%
$1,780,220
Cap Rate 7%
$1,271,586
Cap Rate 9%
$989,011
Alternative Uses
Best Use
Apartment 5plus
$1.27M
$1.11M – $1.48M
NOI $89,011 @ 7.0% cap · market cap 7.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.84M
$2.48M – $3.31M
NOI $198,604 @ 7.0% cap · market cap 16.55%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
2,155
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Jamaica Plain property near parks, restaurants, shopping, public transportation, and local amenities.
Where is this multifamily property located?
The property is located at 9 Forbes St Boston, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 3,789‑square‑foot multifamily property; Built in 1890; R3 zoning
