East Boston Four-Family with
For Sale
Contact for pricing
169 Trenton St, Boston, MA 02128
Spacious, renovated four-family in East Boston with downtown views.
Property Size4,000 SF
Price / SF$568.75
Days on Market1105
Property Features for 169 Trenton St
General Information
Standard status
Active
Size
4,000 SF
Class
A
Property subtype
Multifamily
Zoning
R2
Listing Agency:
CENTURY 21 Cityside
Listed By:
Nico Longo · License #9553388
Source:
Crexi
Added: Aug 15, 2023
Changed: Aug 23
Last Checked: Aug 23 at 2:38AM
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 CENTURY 21 Cityside
Investment Insights
Based on property information with market context.
Located in East Boston's Eagle Hill neighborhood, this four-family property offers views of downtown Boston. The building was renovated in 2019 and features separately metered utilities. Each unit includes private outdoor space, such as a deck or patio. The property is situated in close proximity to the Airport T stop, providing convenient access to downtown Boston. Its location offers access to waterfront parks, shops, and restaurants. The property size is 4000 square feet.
Key Highlights
- Downtown Boston views
- Renovated in 2019
- Four units with separately metered utilities
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
$101,077
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
4.44%
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%
$2,021,540
$2.0M
Cap Rate 7%
$1,443,957
$1.4M
Cap Rate 9%
$1,123,078
$1.1M
Market Conditions
NOI Build-Up for 4,000 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
$151.2K $37.80/SF
− Vacancy
−$6.8K −$1.70/SF
EGI
$144.4K $36.10/SF
− OpEx
−$43.3K −$10.83/SF
NOI
$101.1K $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%
$2,021,540
Cap Rate 7%
$1,443,957
Cap Rate 9%
$1,123,078
Alternative Uses
Best Use
Multifamily LT 5
$1.44M
$1.26M – $1.68M
NOI $101,077 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$1.34M
$1.17M – $1.57M
NOI $93,968 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$3.00M
$2.62M – $3.49M
NOI $209,664 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,601
Businesses Nearby
Explore this area
Business Placement
Demographics for 02128, MA
43,066
Population
19,124
Households
2.3
Avg Household Size
33
Median Age
38%
College-Educated
77%
High-School Grad
5.0 sq mi
ZIP Area
8,613
Density / Sq Mi
$92,079
Median Household Income
$48,549
Median Earnings
$2,009
Median Rent
$680,000
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?
Quadplex - Spacious, renovated four-family in East Boston with downtown views.
Where is this quadplex located?
The property is located at 169 Trenton St Boston, MA.
What is the asking price?
The asking price for this property is $2,275,000.
What are key features of this property?
This property features: Downtown Boston views; Renovated in 2019; Four units with separately metered utilities
