Gut-Renovated Five-Unit
For Sale
$2,750,000
533 Washington St, Boston, MA 02124
Renovated Victorian multifamily with five units, new sprinkler and fire alarm systems, and a newly installed five-car driveway.
Days on Market8
Property Features for 533 Washington St
General Information
Standard status
Active
Class
Trophy asset
Total Parking Spaces
5
Property subtype
Investment
Additional Details
Sprinkler System
Yes
Multifamily Units
5
Amenities
brand new sprinkler system
fire alarm system
newly completed landscaping
newly installed five-car driveway
Building Details
Building Size
6,000 SF
Year Built
2026
Construction
Victorian
Listing Agency:
(607) 342-5872
Listed By:
Zachary Feldshuh · License #449597954
(607) 342-5872
Source:
Elliman
Added: Jul 24
Changed: Jul 25
Last Checked: Jul 30 at 1:10PM
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 Zachary Feldshuh
Investment Insights
Based on property information with market context.
533 Washington Street presents a gut-renovated Victorian now configured as a five-unit multifamily property. The building has been updated throughout into condo-quality condition, with brand-new sprinkler and fire alarm systems installed for added life-safety coverage.
Outside, newly completed landscaping supports the property’s curb presence, and a newly installed five-car driveway adds an on-site parking convenience that is not typical for the area. The property is located in Dorchester, moments from Codman Square and historic Melville Avenue, with the Shawmut Red Line MBTA approximately 0.4 miles away.
For buyers seeking a modernized income property in a walkable, transit-accessible Dorchester setting, this five-unit building offers a turn-key, fully renovated configuration with updated fire protection and exterior improvements.
Outside, newly completed landscaping supports the property’s curb presence, and a newly installed five-car driveway adds an on-site parking convenience that is not typical for the area. The property is located in Dorchester, moments from Codman Square and historic Melville Avenue, with the Shawmut Red Line MBTA approximately 0.4 miles away.
For buyers seeking a modernized income property in a walkable, transit-accessible Dorchester setting, this five-unit building offers a turn-key, fully renovated configuration with updated fire protection and exterior improvements.
Key Highlights
- Completely gut‑renovated Victorian multifamily built in 2026, converted into 5 units
- Brand‑new sprinkler and fire alarm systems
- Newly installed five‑car driveway for tenant convenience and potential for added parking income
Financial Insights For Apartment 5plus
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 | $266.4k | $44.40 |
| − Vacancy | −$10.1k | −$1.69 |
| EGI | $256.3k | $42.71 |
| − OpEx | −$115.3k | −$19.22 |
| NOI | $141.0k | $23.49 |
6,000 SF · lease $44.40/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.01M
$1.76M – $2.35M
NOI $140,952 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.49M
$3.93M – $5.24M
NOI $314,496 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,919
Businesses Nearby
Explore this area
Business Placement
Demographics for 02124, MA
50,972
Population
21,264
Households
2.4
Avg Household Size
36
Median Age
31%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
16,991
Density / Sq Mi
$79,168
Median Household Income
$43,483
Median Earnings
$1,783
Median Rent
$607,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Renovated Victorian multifamily with five units, new sprinkler and fire alarm systems, and a newly installed five-car driveway.
Where is this apartment building located?
The property is located at 533 Washington St Boston, MA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Completely gut‑renovated Victorian multifamily built in 2026, converted into 5 units; Brand‑new sprinkler and fire alarm systems; Newly installed five‑car driveway for tenant convenience and potential for added parking income
