Multifamily Apartment
New
For Sale
$5,875,000
9 Hannon Street, Boston, MA 02124
Four-story brick multifamily with 16 total units, updated interiors, and on-site laundry near MBTA commuter rail access.
Property Size14,720 SF
Lot Size0.22 Acres
Price / SF$399.12
Days on Market5
Property Features for 9 Hannon Street
General Information
Standard status
Active
Size
14,720 SF
Lot size
0.22 Acres
Property subtype
Multi-family
Units
Unit Mix
15 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
16
Additional Details
Public Transit
Yes
Amenities
on-site laundry facility
Building Details
Year Built
1965
Buildings
1
Stories
4
Construction
brick
Listing Agency:
Horvath & Tremblay
Listed By:
Nick Bevilacqua
(401) 521-9490
Source:
Cthomeseekers
Added: Jul 27
Changed: Jul 30
Last Checked: Jul 30 at 9:04AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This four-story brick multifamily apartment building contains fifteen 2-bedroom/1-bath units and one 1-bedroom/1-bath unit, totaling sixteen apartments. The property includes 14,720 square feet of gross living area and sits on a 0.22-acre parcel. Unit finishes and updates include luxury vinyl plank flooring, updated kitchens with granite countertops, and updated bathrooms with tile flooring and a tiled shower. Tenants also have access to an on-site laundry facility. Off-street parking is available with over eight off-street spaces.
The building is located in the Dorchester neighborhood of Boston at 9 Hannon Street, steps from the Morton Street MBTA Commuter Rail Station, with convenient access to the Red and Orange MBTA Commuter Rails.
Built in 1965, the property offers a compact site plan with off-street parking, updated unit interiors, and transit proximity that can support a wide range of residential leasing needs.
The building is located in the Dorchester neighborhood of Boston at 9 Hannon Street, steps from the Morton Street MBTA Commuter Rail Station, with convenient access to the Red and Orange MBTA Commuter Rails.
Built in 1965, the property offers a compact site plan with off-street parking, updated unit interiors, and transit proximity that can support a wide range of residential leasing needs.
Key Highlights
- Four‑story brick multifamily with 16 total units: 15 two‑bedroom/1‑bath and 1 one‑bedroom/1‑bath
- 14,720 SF gross living area on a 0.22‑acre parcel
- Updated kitchens with granite countertops and updated tiled bathrooms with a tiled shower
Financial Insights For Apartment 5plus
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 | $653.6k | $44.40 |
| − Vacancy | −$24.8k | −$1.69 |
| EGI | $628.7k | $42.71 |
| − OpEx | −$282.9k | −$19.22 |
| NOI | $345.8k | $23.49 |
14,720 SF · lease $44.40/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.94M
$4.32M – $5.76M
NOI $345,803 @ 7.0% cap · market cap 5.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.02M
$9.64M – $12.86M
NOI $771,564 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
889
Businesses Nearby
Explore this area
Business Placement
Demographics for 02124, MA
50,972
Population
21,264
Households
2.4
Avg Household Size
36
Median Age
31%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
16,991
Density / Sq Mi
$79,168
Median Household Income
$43,483
Median Earnings
$1,783
Median Rent
$607,200
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 - Four-story brick multifamily with 16 total units, updated interiors, and on-site laundry near MBTA commuter rail access.
Where is this apartment building located?
The property is located at 9 Hannon Street Boston, MA.
What is the asking price?
The asking price for this property is $5,875,000.
What are key features of this property?
This property features: Four‑story brick multifamily with 16 total units: 15 two‑bedroom/1‑bath and 1 one‑bedroom/1‑bath; 14,720 SF gross living area on a 0.22‑acre parcel; Updated kitchens with granite countertops and updated tiled bathrooms with a tiled shower
