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285 Lamartine St 3 Unit Apartment Building $3,038,000 ($1,012,667/Unit) 5.96% Cap Rate Boston, MA 02130
Investment Highlights
- Unit 2 is vacant and easy to show as model unit. Unit 1 rented at 5200 , Unit 3 rented at 6250/month.Interior images are of 283 Lamartine which is the
- New construction
Executive Summary
Rare new construction 3-unit offering with strong investment potential and owner-occupant appeal. Each unit features 4 bedrooms, 2 baths, private outdoor space, and parking CONDO QUALITY. Spacious open layouts include bay windows, large living/dining areas, and stylish kitchens with shaker cabinets, quartz counters, and gas cooking. Primary bedrooms offer walk-in closets, and baths are finished in quality tile with both tub and shower options. Featuring hardwood floors, crown molding, in-unit laundry, walk in closets, high end kitchens and baths, 3-car parking, and full sprinkler/fire alarm system. One unit is vacant—perfect for an owner-occupant—while two are rented, delivering immediate income. A+ location just blocks from the Green Street Orange Line.This one works! NOI and cap is pro-forma as 2/3 occupied.
Financial Summary (Pro Forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$216,000
|
$45.50
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$10,800
|
$2.28
|
| Effective Gross Income |
$205,200
|
$43.23
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$24,123
|
$5.08
|
| Net Operating Income |
$181,077
|
$38.15
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $216,000 |
| Annual Per SF | $45.50 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $10,800 |
| Annual Per SF | $2.28 |
| Effective Gross Income | |
|---|---|
| Annual | $205,200 |
| Annual Per SF | $43.23 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $24,123 |
| Annual Per SF | $5.08 |
| Net Operating Income | |
|---|---|
| Annual | $181,077 |
| Annual Per SF | $38.15 |
Property Facts
| Price | $3,038,000 | Apartment Style | Low-Rise |
| Price Per Unit | $1,012,667 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 5.96% | Building Size | 4,747 SF |
| No. Units | 3 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | Parking Ratio | 0.63/1,000 SF |
| Zoning | RL - R | ||
| Price | $3,038,000 |
| Price Per Unit | $1,012,667 |
| Sale Type | Investment |
| Cap Rate | 5.96% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.15 AC |
| Building Size | 4,747 SF |
| No. Stories | 3 |
| Year Built | 2024 |
| Parking Ratio | 0.63/1,000 SF |
| Zoning | RL - R |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Smoke Free
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+2 | 3 | - | - |
1 1
Walk Score®
Walker's Paradise (90)
Transit Score®
Excellent Transit (70)
Bike Score®
Very Bikeable (84)
Property Taxes
| Parcel Number | JAMA W:19 P:00587 S:000 | Improvements Assessment | $139,200 |
| Land Assessment | $497,100 | Total Assessment | $636,300 |
Property Taxes
Parcel Number
JAMA W:19 P:00587 S:000
Land Assessment
$497,100
Improvements Assessment
$139,200
Total Assessment
$636,300
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285 Lamartine St
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