Three-Family Property with Full
For Sale
$1,299,000
128 Shurtleff St, Chelsea, MA 02150
Three residential units with generous layouts, basement storage, and access to Boston-area transportation and employment centers.
Property Size4,185 SF
Price / SF$310.39
Days on Market8
Property Features for 128 Shurtleff St
General Information
Standard status
Active
Size
4,185 SF
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,795
Building Details
Building Size
4,185 SF
Year Built
1920
Listing Agency:
Cameron Real Estate Group
Listed By:
Liliana Delgado
(781) 267-2999
Source:
Classifiedrealtygroup
Added: Sep 16
Changed: Sep 19
Last Checked: Sep 22 at 1:45PM
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 Cameron Real Estate Group
Investment Insights
Based on property information with market context.
Built in 1920, this triplex provides approximately 4,185 square feet across three residential units. The property includes a full basement for additional storage, while each apartment offers multiple bedrooms and defined living areas. The three-unit configuration may also suit an owner-occupant seeking to live on site while leasing the remaining residences, subject to applicable requirements.
The property is located at 128 Shurtleff St in Chelsea, Massachusetts, with access to major highways, public transportation, Boston Logan International Airport, and downtown Boston. Its location places the building within the broader Greater Boston rental market and near ongoing redevelopment activity in Chelsea.
The property is located at 128 Shurtleff St in Chelsea, Massachusetts, with access to major highways, public transportation, Boston Logan International Airport, and downtown Boston. Its location places the building within the broader Greater Boston rental market and near ongoing redevelopment activity in Chelsea.
Key Highlights
- Three residential units in a triplex configuration
- Approximately 4,185 square feet of living space
- Full basement provides additional storage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$79,729
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,594,580
$1.6M
Cap Rate 7%
$1,138,986
$1.1M
Cap Rate 9%
$885,878
$885.9K
Market Conditions
NOI Build-Up for 4,185 SF
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.
Gross rent
$120.5K $28.80/SF
− Vacancy
−$6.6K −$1.58/SF
EGI
$113.9K $27.22/SF
− OpEx
−$34.2K −$8.16/SF
NOI
$79.7K $19.05/SF
Area
Suffolk County, MA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,594,580
Cap Rate 7%
$1,138,986
Cap Rate 9%
$885,878
Alternative Uses
Best Use
Multifamily LT 5
$1.14M
$996.6K – $1.33M
NOI $79,729 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$1.04M
$908.7K – $1.21M
NOI $72,698 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$2.48M
$2.17M – $2.89M
NOI $173,425 @ 7.0% cap · market cap 13.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,941
Businesses Nearby
Explore this area
Business Placement
Demographics for 02150, MA
40,721
Population
14,162
Households
2.9
Avg Household Size
34
Median Age
22%
College-Educated
69%
High-School Grad
2.2 sq mi
ZIP Area
18,510
Density / Sq Mi
$72,122
Median Household Income
$41,046
Median Earnings
$1,861
Median Rent
$476,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units with generous layouts, basement storage, and access to Boston-area transportation and employment centers.
Where is this triplex located?
The property is located at 128 Shurtleff St Chelsea, MA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Three residential units in a triplex configuration; Approximately 4,185 square feet of living space; Full basement provides additional storage
