Multifamily Apartment
For Sale
$5,625,000
9 Hannon St, 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$382.13
Days on Market95
Property Features for 9 Hannon St
General Information
Standard status
Active
Size
14,720 SF
Lot size
0.22 Acres
Property subtype
5+ Family - 5+ Units Side by Side
Site & Location
Neighborhood
Mattapan
Public Transit
Yes
Units
Unit Mix
15 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
16
Amenities
on-site laundry facility
Building Details
Building Size
14,720 SF
Year Built
1965
Buildings
1
Stories
4
Construction
brick
Listing Agency:
Horvath & Tremblay
(781) 776-4000
Listed By:
Nick Bevilacqua · License #9573250-RE-S
(617) 202-4029
Source:
Iverty
Added: Jul 28
Changed: Oct 29
Last Checked: Oct 28 at 8:17AM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$345,803
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,916,060
$6.9M
Cap Rate 7%
$4,940,043
$4.9M
Cap Rate 9%
$3,842,256
$3.8M
Market Conditions
NOI Build-Up for 14,720 SF
Gross rent
$653.6K $44.40/SF
− Vacancy
−$24.8K −$1.69/SF
EGI
$628.7K $42.71/SF
− OpEx
−$282.9K −$19.22/SF
NOI
$345.8K $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%
$6,916,060
Cap Rate 7%
$4,940,043
Cap Rate 9%
$3,842,256
Alternative Uses
Best Use
Apartment 5plus
$4.94M
$4.32M – $5.76M
NOI $345,803 @ 7.0% cap · market cap 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.02M
$9.64M – $12.86M
NOI $771,564 @ 7.0% cap · market cap 13.72%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
889
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
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 St Boston, MA.
What is the asking price?
The asking price for this property is $5,625,000.
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
