Vacant Multifamily Near the
11 Pearl Avenue, Winthrop, MA 02152
Vacant 3-family near the ocean in Winthrop, Massachusetts.
Type:Multi-family / 3 Family
Property size:
4,032 SFPrice / SF:
$260/SF- Added:
- Mar 25, 2026
- Days on Market:
- 68
- Last Refresh:
- Mar 25 at 8:13 pm
Property Features for 11 Pearl Avenue
General Information
- Standard status
- Active
- Size
- 4,032 SF
- Property subtype
- Multi-family / 3 Family
Building Details
- Year Built
- 1890
Listing agent Reserve Team License #9533075 (781) 342-0052
Listing office Reference Real Estate (781) 342-0052
Listing date Mar 25, 2026
Source Compass
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 Reference Real Estate
HighLights
- Waterfront location in Winthrop, near the ocean and public beach.
- High income potential: $10,500/month at market rents.
- Vacant 3‑family property, ready for immediate occupancy or rental.
- Large living space: 4,032 sq ft with 11 bedrooms.
- Separate heat systems for each unit and 200‑amp electric service.
- Value‑add opportunity with room to improve cap rate.
Overview
Located in Winthrop, Massachusetts, 11 Pearl Ave is a vacant 3-family property situated one block from the ocean. The building offers 4,032 square feet of income-producing space. It features a total of 11 bedrooms across three floors. The property includes three separate heating systems and a 200-amp electric system. The property is currently vacant, allowing for immediate occupancy and rental opportunities. The location in Winthrop, described as one of the last undervalued waterfront towns in Greater Boston, suggests potential for appreciation. The property's potential uses include owner-occupancy with rental income from the other two units, or full rental operation of all three units.
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 | $116.1k | $28.80 |
| − Vacancy | −$6.4k | −$1.58 |
| EGI | $109.7k | $27.22 |
| − OpEx | −$32.9k | −$8.16 |
| NOI | $76.8k | $19.05 |
4,032 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.10M
$960.2K – $1.28M
NOI $76,814 @ 7.0% cap · market cap 7.32%
Second Best
Apartment 5plus
$1.00M
$875.5K – $1.17M
NOI $70,041 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$2.39M
$2.09M – $2.78M
NOI $167,085 @ 7.0% cap · market cap 15.91%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Winthrop
- County
- Suffolk
- State
- Massachusetts
- Longitude
- -70.9733917
- Latitude
- 42.376341
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Vacant 3-family near the ocean in Winthrop, Massachusetts.
Where is this triplex located?
The property is located at 11 Pearl Avenue Winthrop, MA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Waterfront location in Winthrop, near the ocean and public beach.; High income potential: **$10,500/month at market rents.**; Vacant 3‑family property, ready for immediate occupancy or rental.
