Three-Story Multifamily
987-989 Boylston Street, Newton, MA 02461
For Sale
New
$1,399,888
Hardwood floors, a basement, and outdoor space complement the residence’s multi-level layout.
Property Size2,726 SF
Price / SF$513.53
Days on Market2
Property Features for 987-989 Boylston Street
General Information
Standard status
Size
Property subtype
Zoning
Taxes and HOA fees
Annual Taxes
Amenities
private yard
porch
basement
hardwood flooring
stone counters
walk-in shower
Full
3
No
4
7
Public Record
2726
Public
0.1
5
Paved Drive
Granite
Building Details
Building Size
Year Built
Stories
Listing Agency:
William Raveis R.E. & Home Services
Listed By:
Winner Yam McDonald
Source:
Popularproperties
Added: Nov 7
Last Checked: Nov 7 at 2:00PM
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 William Raveis R.E. & Home Services
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1912, this three-story multifamily residence contains 2,726 square feet of living area. Interior details include hardwood flooring in the living room and bedrooms, stone kitchen counters, and a walk-in shower. A basement provides additional storage space, while a porch and private yard extend the property outdoors.
The property is located at 987-989 Boylston Street in Newton, Massachusetts, and is zoned residential.
The property is located at 987-989 Boylston Street in Newton, Massachusetts, and is zoned residential.
Key Highlights
- 2,726 square feet of living space across three stories
- Built in 1912
- Hardwood flooring in the living room and bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,238
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,084,760
$1.1M
Cap Rate 7%
$774,829
$774.8K
Cap Rate 9%
$602,644
$602.6K
Market Conditions
NOI Build-Up for 2,726 SF
Gross rent
$104.0K $38.16/SF
− Vacancy
−$5.4K −$1.98/SF
EGI
$98.6K $36.18/SF
− OpEx
−$44.4K −$16.28/SF
NOI
$54.2K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,084,760
Cap Rate 7%
$774,829
Cap Rate 9%
$602,644
Alternative Uses
Best Use
Apartment 5plus
$774.8K
$678.0K – $904.0K
NOI $54,238 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,965 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,042
Businesses Nearby
Explore this area
Business Placement
Demographics for 02461, MA
7,430
Population
2,785
Households
2.7
Avg Household Size
44
Median Age
88%
College-Educated
97%
High-School Grad
1.5 sq mi
ZIP Area
4,953
Density / Sq Mi
$207,292
Median Household Income
$101,850
Median Earnings
$3,026
Median Rent
$1,154,500
Median Home Value
Market
Average Price Trend$/SF for Multifamily properties in Newton, MA
Properties on Market for Multifamily properties in Newton
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Hardwood floors, a basement, and outdoor space complement the residence’s multi-level layout.
Where is this multifamily property located?
The property is located at 987-989 Boylston Street Newton, MA.
What is the asking price?
The asking price for this property is $1,399,888.
What are key features of this property?
This property features: 2,726 square feet of living space across three stories; Built in 1912; Hardwood flooring in the living room and bedrooms
