Brick 3-Unit
For Sale
$870,000
90 Blue Hill Ave, Boston, MA 02119
Three-unit brick rowhouse with high ceilings, wood floors, updated kitchens and baths, and in-unit laundry.
Property Size2,274 SF
Price / SF$382.59
Days on Market81
Property Features for 90 Blue Hill Ave
General Information
Standard status
Active
Size
2,274 SF
Property subtype
Multi-Family
Zoning
R3
Net Operating Income
$66,845
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,054
Building Details
Building Size
2,274 SF
Year Built
1890
Stories
1
Tenancy
Multi
Listing Agency:
Prestige Realty Experts Inc.
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 19
Changed: Sep 6
Last Checked: Sep 7 at 6:11AM
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 Prestige Realty Experts Inc.
Investment Insights
Based on property information with market context.
This classic brick 3-unit rowhouse offers turn-of-the-century character with modern updates throughout. Interiors feature high ceilings, generously proportioned rooms, and wood floors. Kitchens and baths have been updated, and each unit includes in-unit laundry. The building also has separate systems, along with boilers installed between 2019 and 2022.
The building is configured as Unit 1 with a duplex layout offering 2 bedrooms and 1.5 baths, and Units 2 and 3 as 1-bedroom, 1-bath homes. The property is conveniently located near public transportation, shopping, parks, and neighborhood amenities.
Overall, the layout provides a mix of one-bedroom units and a duplex two-bedroom unit, supported by recent mechanical updates and a maintained brick exterior.
The building is configured as Unit 1 with a duplex layout offering 2 bedrooms and 1.5 baths, and Units 2 and 3 as 1-bedroom, 1-bath homes. The property is conveniently located near public transportation, shopping, parks, and neighborhood amenities.
Overall, the layout provides a mix of one-bedroom units and a duplex two-bedroom unit, supported by recent mechanical updates and a maintained brick exterior.
Key Highlights
- Three‑unit brick rowhouse built in 1890
- Unit 1 is a duplex with 2 bedrooms and 1.5 baths
- Units 2 and 3 each have 1 bedroom and 1 full bath
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
$57,462
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
6.60%
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%
$1,149,240
$1.1M
Cap Rate 7%
$820,886
$820.9K
Cap Rate 9%
$638,467
$638.5K
Market Conditions
NOI Build-Up for 2,274 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
$86.0K $37.80/SF
− Vacancy
−$3.9K −$1.70/SF
EGI
$82.1K $36.10/SF
− OpEx
−$24.6K −$10.83/SF
NOI
$57.5K $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%
$1,149,240
Cap Rate 7%
$820,886
Cap Rate 9%
$638,467
Alternative Uses
Best Use
Multifamily LT 5
$820.9K
$718.3K – $957.7K
NOI $57,462 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$763.2K
$667.8K – $890.4K
NOI $53,421 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,194 @ 7.0% cap · market cap 13.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,821
Businesses Nearby
Explore this area
Business Placement
Demographics for 02119, MA
29,175
Population
12,937
Households
2.3
Avg Household Size
34
Median Age
30%
College-Educated
81%
High-School Grad
1.6 sq mi
ZIP Area
18,234
Density / Sq Mi
$43,255
Median Household Income
$38,664
Median Earnings
$1,252
Median Rent
$668,900
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?
Triplex - Three-unit brick rowhouse with high ceilings, wood floors, updated kitchens and baths, and in-unit laundry.
Where is this triplex located?
The property is located at 90 Blue Hill Ave Boston, MA.
What is the asking price?
The asking price for this property is $870,000.
What are key features of this property?
This property features: Three‑unit brick rowhouse built in 1890; Unit 1 is a duplex with 2 bedrooms and 1.5 baths; Units 2 and 3 each have 1 bedroom and 1 full bath
