Turnkey 2-Unit Brownstone
128 Washington Avenue Chelsea, MA 02150
For Sale
$825,000
Renovated 2-family brownstone with two spacious duplex units, separate utilities, and multiple major capital improvements.
Property Size2,112 SF
Price / SF$390.63
Days on Market8
Property Features for 128 Washington Avenue
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Multi-family
Building Details
Year Built
1900
Listing Agency:
Carlton's Wharf & Co.
Listed By:
Jhonny Guananga
(978) 922-3683
Source:
Jbarrettrealty
Added: Jul 22
Changed: Jul 25
Last Checked: Jul 28 at 11:26PM
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 Carlton's Wharf & Co.
Investment Insights
Based on property information with market context.
This turnkey, renovated 2-family, 4-story classic brick brownstone includes two spacious duplex units with separate utilities. Unit 1 offers a 2-bedroom layout with an open-concept living, dining, and kitchen area, hardwood floors, in-unit laundry, storage, and direct access to a private fenced backyard via a separate entrance. Unit 2 is a 3-bedroom duplex with an open living room and kitchen layout, soaring ceilings, oversized windows for natural light, generous closet space, and large bedrooms. The property has undergone major improvements including a new roof, two new high-efficiency Navien/Burham heating systems, a new electrical panel, newer water heaters, professional asbestos removal, rebuilt code-compliant railings, masonry repointing, new fascia and flashing, updated flooring, and fresh paint.
The property supports flexible occupancy options, including delivery with both units vacant, one unit occupied and one vacant, or Unit 2 delivered occupied, based on the timing and acceptance of an offer.
The property supports flexible occupancy options, including delivery with both units vacant, one unit occupied and one vacant, or Unit 2 delivered occupied, based on the timing and acceptance of an offer.
Key Highlights
- Renovated 2‑family classic brick brownstone built in 1900 with two spacious duplex units
- Unit 1: 2‑bedroom duplex with open‑concept living/dining/kitchen, hardwood floors, in‑unit laundry, storage, and direct access to a private fenced backyard
- Unit 2: 3‑bedroom duplex with open living room/kitchen layout, soaring ceilings, oversized windows, generous closet space, and large bedrooms
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 | $60.8k | $28.80 |
| − Vacancy | −$3.3k | −$1.58 |
| EGI | $57.5k | $27.22 |
| − OpEx | −$17.2k | −$8.16 |
| NOI | $40.2k | $19.05 |
2,112 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$574.8K
$503.0K – $670.6K
NOI $40,236 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$524.1K
$458.6K – $611.5K
NOI $36,688 @ 7.0% cap · market cap 4.45%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,521 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Renovated 2-family brownstone with two spacious duplex units, separate utilities, and multiple major capital improvements.
Where is this duplex located?
The property is located at 128 Washington Avenue Chelsea, MA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Renovated 2‑family classic brick brownstone built in 1900 with two spacious duplex units; Unit 1: 2‑bedroom duplex with open‑concept living/dining/kitchen, hardwood floors, in‑unit laundry, storage, and direct access to a private fenced backyard; Unit 2: 3‑bedroom duplex with open living room/kitchen layout, soaring ceilings, oversized windows, generous closet space, and large bedrooms
