Triplex With Zoning for Fourth
For Sale
$2,995,000
Pending
933 E Broadway, Boston, MA 02127
Residential Income, Boston, MA
Property Size5,400 SF
Lot Size0.09 Acres
Days on Market514
Property Features for 933 E Broadway
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
12
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 5, Bedroom 12, Bathroom 6, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 10, Bedroom 8, Bedroom 6, Bathroom 4, Bathroom 3, Bedroom 2, Bedroom 9, Bedroom 11, Bedroom 7
Directions
On East Broadway by Farragut Road
Subdivision
South Boston
Standard status
Pending
APN
W:06 P:04485 S:000,1410596
Size
5,400 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
25473
Building Details
Year built
1905
Floors in Building
3
Number of units
3
Listing Agency:
RE/MAX Realty Plus · RE/MAX International
(617) 268-5100
Listed By:
James Fitzgerald
(617) 268-5100
Added: Mar 27, 2025
Changed: Aug 19
Last Checked: Aug 22 at 3:06AM
MLS# 73350904
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Triplex residential income property on a 0.0918-acre lot, built in 1905. The property features three deck-style units, with each unit laid out with four bedrooms and two bathrooms. In addition, the property has zoning approval for a fourth unit.
Zoned R3 and located at 933 E Broadway in Boston (02127). The listing also references ocean and city views from the property.
The existing room configuration supports multiple four-bedroom layouts, with bathrooms counted as two per unit, and zoning approval adds an additional unit opportunity within the same R3 framework.
Zoned R3 and located at 933 E Broadway in Boston (02127). The listing also references ocean and city views from the property.
The existing room configuration supports multiple four-bedroom layouts, with bathrooms counted as two per unit, and zoning approval adds an additional unit opportunity within the same R3 framework.
Key Highlights
- 0.0918‑acre lot with a 5,400 SF triplex building
- Zoned R3
- Built in 1905
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
$136,454
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
4.56%
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%
$2,729,080
$2.7M
Cap Rate 7%
$1,949,343
$1.9M
Cap Rate 9%
$1,516,156
$1.5M
Market Conditions
NOI Build-Up for 5,400 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
$204.1K $37.80/SF
− Vacancy
−$9.2K −$1.70/SF
EGI
$194.9K $36.10/SF
− OpEx
−$58.5K −$10.83/SF
NOI
$136.5K $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%
$2,729,080
Cap Rate 7%
$1,949,343
Cap Rate 9%
$1,516,156
Alternative Uses
Best Use
Multifamily LT 5
$1.95M
$1.71M – $2.27M
NOI $136,454 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$1.81M
$1.59M – $2.11M
NOI $126,857 @ 7.0% cap · market cap 4.24%
Theoretical Best
Office A
$4.04M
$3.54M – $4.72M
NOI $283,046 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
823
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 - Zoned R3 triplex on a 0.0918-acre lot with four 2-bath units planned, each with four bedrooms.
Where is this triplex located?
The property is located at 933 E Broadway Boston, MA.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: 0.0918‑acre lot with a 5,400 SF triplex building; Zoned R3; Built in 1905
