Exceptional opportunity to own a turn-key 3-unit multifamily asset in one of Boston’s most sought-after neighborhoods. This well-maintained property delivers strong in-place income and a 6% cap rate, ideal for investors seeking immediate cash flow with long-term growth potential. Each unit features 4 bedrooms with modern finishes and consistent rental history. The building sits above 4 garage parking spaces—an increasingly rare and valuable amenity in South Boston. Perfectly located near public transportation, restaurants, shops, and major commuter routes, this property benefits from strong tenant demand and low vacancy. An ideal addition to any investment portfolio.
— MLSPIN #: 73373831Map of 20 Grimes Street, Boston, MA 02127
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| List Price: | $3,100,000 |
|---|---|
| Status: | New |
| MLS ID: | 73373831 |
| Town: | Boston |
| Neighborhood: | South Boston |
| County: | Suffolk |
| Zip: | 02127 |
| Property Type: | Residential Income |
| Property Sub Type: | 3 Family - 3 Units Up/Down |
| Bedrooms: | 12 |
| Full Baths: | 8 |
| Half Baths: | 2 |
| Living Area: | 4,313 sqft |
| Acres: | 0.06 |
| Taxes: | 26,808 |
| Flooring: | Tile, Hardwood |
| Parking Features: | Leased |
| Status: | Active |
| Water Source: | Public |
| Year Built: | 1885 |
| Directions: | W 8th Street --> Grimes Street |
| Foundation Details: | Concrete Perimeter |
| Construction Materials: | Frame |
| Listing Contract Date: | 2025-05-13 |
| Garage?: | Yes |
| Lot Size Area: | 0.06 |
| Lot Size Square Feet: | 2,564 |
| Rooms Total: | 27 |
| Bathrooms Total Integer: | 10 |
| Building Area Source: | Owner |
| Building Area Total: | 4,313 |
| Community Features: | Public Transportation, Shopping, Pool, Tennis Court(s), Park, Walk/Jog Trails, Stable(s), Golf, Medical Facility, Laundromat, Bike Path, Conservation Area, Highway Access, House of Worship, Marina, Private School, Public School, T-Station, University |
| Fencing: | Fenced/Enclosed |
| Levels: | 9 |
| Living Area Units: | Square Feet |
| Lot Size Units: | Acres |
| Number Of Units Total: | 3 |
| Parcel Number: | 1412799 |
| Patio And Porch Features: | Patio, Patio - Enclosed |
| Sewer: | Public Sewer |
| Waterfront Features: | Beach Front, 1/2 to 1 Mile To Beach |
| Zoning: | R3 |
| Covered Spaces: | 4 |
| Garage Spaces: | 4 |
| Stories Total: | 9 |
| Year Built Source: | Public Records |
| Disclosures: | All three units have leases in place through 8/31/2025. Unit 2 signed lease renewal $6, 300/month through 8/31/2026. Unit 1 & 3 can be leased for 9/1 if buyer desires. Additional monthly rent income from garage parking spaces of $1, 300/month. Listing Broker has ownership interest in property. |
| Farm Land Area Units: | Square Feet |
| Financial Data Source: | Owner |
| Gross Income: | $241,800 |
| Listing Agreement: | Exclusive Right To Sell |
| Apod Available: | Yes |
| Disclosure: | Yes |
| Dpr Flag: | No |
| Flrs 1: | 1 |
| Flrs 2: | 2 |
| Flrs 3: | 3 |
| Gre: | 55,645 |
| Lead Paint: | Unknown |
| Lease 1: | Yes |
| Lease 2: | Yes |
| Lease 3: | Yes |
| Levels 1: | 3 |
| Levels 2: | 3 |
| Levels 3: | 3 |
| Listing Alert: | No |
| List Price Per Sqft: | $718.76 |
| Page: | 183 |
| Price Per Sqft: | $718.76 |
| Square Feet Incl Base: | No |
| Net Operating Income: | $186,155 |
| Operating Expense: | $55,645 |
| Original List Price: | $3,100,000 |
| Parking Total: | 4 |
| Tax Assessed Value: | $2,315,000 |
| Tax Year: | 2025 |
| Total Actual Rent: | $20,150 |
| Year Built Details: | Renovated Since |
| Bedrms 1: | 4 |
| Bedrms 2: | 4 |
| Bedrms 3: | 4 |
| F Bths 1: | 3 |
| F Bths 2: | 2 |
| F Bths 3: | 2 |
| H Bths 2: | 1 |
| H Bths 3: | 1 |
| Rent1: | 6,700 |
| Rent2: | 6,200 |
| Rent3: | 5,950 |
Disclaimer:
The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors, landlords and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing, leasing or renting listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing, leasing or renting. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.
MLS Property Information Network, Inc. data last updated on May 14, 2025 12:07 PM
Property Last Updated: May 13, 2025 02:58 PM
Listing Courtesy of: Burns Realty & Investments
Listing Agent: Adam Burns
617-564-1167
