9-Unit Multifamily
1228-1242 Commercial Street, Weymouth, MA 02189
For Sale
$2,650,000
Two renovated buildings offer in-unit laundry, central air-conditioning, and updated interiors.
Property Size8,243 SF
Lot Size0.20 Acres
Price / SF$321.48
Days on Market15
Property Features for 1228-1242 Commercial Street
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Site & Location
Road Access
Public Transit
Additional Details
Multifamily Units
Tenant in Place
Amenities
custom cabinetry
high-end appliance packages
modern bathrooms
updated flooring
recess lighting
central air-conditioning
in-unit laundry
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
Marcus & Millichap Real Estate Investment Services
Listed By:
Tony Pepdjonovic · License #(S):MA:9525302
(617) 429-2031
Source:
Ballowhutchinsonrealestate
Added: Oct 23
Changed: Nov 6
Last Checked: Nov 6 at 10:06AM
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 Marcus & Millichap Real Estate Investment 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.
This 9-unit multifamily property consists of two buildings—a 6-unit and a 3-unit—on one tax parcel. The combined property measures 8,243 SF and sits on a 0.2-acre lot with parking for up to 10 vehicles. Renovations include custom cabinetry, upgraded appliance packages, modern bathrooms, updated flooring, recessed lighting, central air-conditioning, and in-unit laundry. The 6-unit building was renovated to the studs and has a sprinkler system throughout.
Public bus service is nearby, and the MBTA Commuter Rail is within walking distance. The units are occupied on at-will tenancies.
Public bus service is nearby, and the MBTA Commuter Rail is within walking distance. The units are occupied on at-will tenancies.
Key Highlights
- 9 units across a 6‑unit and a 3‑unit building on one tax parcel
- 8,243 SF property on a 0.2‑acre lot
- Parking accommodates up to 10 vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,241
Cap Rate
5.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,724,820
$2.7M
Cap Rate 7%
$1,946,300
$1.9M
Cap Rate 9%
$1,513,789
$1.5M
Market Conditions
NOI Build-Up for 8,243 SF
Gross rent
$262.1K $31.80/SF
− Vacancy
−$14.4K −$1.75/SF
EGI
$247.7K $30.05/SF
− OpEx
−$111.5K −$13.52/SF
NOI
$136.2K $16.53/SF
Area
Norfolk County, MA
Vacancy
5.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,724,820
Cap Rate 7%
$1,946,300
Cap Rate 9%
$1,513,789
Alternative Uses
Best Use
Apartment 5plus
$1.95M
$1.70M – $2.27M
NOI $136,241 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.88M
$4.27M – $5.69M
NOI $341,588 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
9
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Explore this area
Business Placement
Demographics for 02189, MA
15,123
Population
6,689
Households
2.3
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
3,781
Density / Sq Mi
$91,842
Median Household Income
$53,785
Median Earnings
$1,732
Median Rent
$463,300
Median Home Value
Market
Average Price Trend$/SF for Apartment buildings in Norfolk County, MA
Properties on Market for Apartment buildings in Norfolk County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Two renovated buildings offer in-unit laundry, central air-conditioning, and updated interiors.
Where is this apartment building located?
The property is located at 1228-1242 Commercial Street Weymouth, MA.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 9 units across a 6‑unit and a 3‑unit building on one tax parcel; 8,243 SF property on a 0.2‑acre lot; Parking accommodates up to 10 vehicles
