Three-Unit Residential Income
86 Grove St Chelsea, MA 02150
86 Grove St, Chelsea, MA, 02150
$859,000
For Sale
$859,000
MULTI_FAMILY - Chelsea, MA
Property Size2,343 SF
Lot Size0.04 Acres
Price / SF$366.62
Days on Market16
Property Features for 86 Grove St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R3
- Bedrooms
- 6
- Bathrooms
- 3
- Rooms
- Bedroom 6, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 5, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 3
- Standard status
- Active
- APN
- M:0030 B:0000 L:0064,1287273
- Size
- 2,343 SF
- Lot size
- 0.04 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 7676
Building Details
- Year built
- 1900
- Floors in Building
- 5
- Number of units
- 3
Listing agency
REMAX Andrew Realty Services
(781) 395-7676
Listed by
John Veneziano
(781) 395-7676
Added: Jul 7 Updated: Jul 11 at 3:33AM Checked: Jul 22 at 10:06PM
MLS# 73545892
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.
This well-maintained three-family property offers three separate units, and each unit is laid out with two bedrooms, a spacious living area, and an eat-in kitchen. Residents also have private deck space, and the property provides access to the backyard for additional outdoor flexibility. Recent improvements include renovated bathrooms, a new furnace, and newer water heaters.
The property is located at 86 Grove St in Chelsea, Massachusetts, and it is described as being positioned at the top of the hill near Bellingham Square. The listing also notes convenient connections to area bus routes and the Silver Line, along with proximity to walking and bike paths and the Chelsea Greenway.
For tenants, the configuration supports comfortable everyday living with in-unit kitchen space and private outdoor decks. For owner-occupants or investors, the property presents a straightforward multi-family setup, and the listing states that all leases are currently tenancy at will, which may provide flexibility for future ownership plans and adjustments. Zoning is listed as R3, supporting residential use consistent with the property’s existing configuration.
The property is located at 86 Grove St in Chelsea, Massachusetts, and it is described as being positioned at the top of the hill near Bellingham Square. The listing also notes convenient connections to area bus routes and the Silver Line, along with proximity to walking and bike paths and the Chelsea Greenway.
For tenants, the configuration supports comfortable everyday living with in-unit kitchen space and private outdoor decks. For owner-occupants or investors, the property presents a straightforward multi-family setup, and the listing states that all leases are currently tenancy at will, which may provide flexibility for future ownership plans and adjustments. Zoning is listed as R3, supporting residential use consistent with the property’s existing configuration.
Key Highlights
- Well‑maintained 3‑family property built in 1900, offering 2‑bedroom units across all three units
- Each unit includes spacious living areas, eat‑in kitchens, and private deck space
- Leases are currently tenancy at will for added flexibility for future ownership and rental adjustments
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.5k | $28.80 |
| − Vacancy | −$3.7k | −$1.58 |
| EGI | $63.8k | $27.22 |
| − OpEx | −$19.1k | −$8.16 |
| NOI | $44.6k | $19.05 |
2,343 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$637.7K
$558.0K – $744.0K
NOI $44,637 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$581.4K
$508.8K – $678.4K
NOI $40,701 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,093 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Well-maintained 3-family with two-bedroom layouts, private decks, and recent system updates for flexible owner or tenant use.
Where is this triplex located?
The property is located at 86 Grove St Chelsea, MA.
What is the asking price?
The asking price for this property is $859,000.
What are key features of this property?
This property features: Well‑maintained 3‑family property built in 1900, offering 2‑bedroom units across all three units; Each unit includes spacious living areas, eat‑in kitchens, and private deck space; Leases are currently tenancy at will for added flexibility for future ownership and rental adjustments
