Malden Triplex Investment
For Sale
$989,900
Pending
13-15 Tufts St, Malden, MA 02148
Spacious triplex near transportation with updated systems and ample storage.
Property Size3,044 SF
Days on Market183
Property Features for 13-15 Tufts St
General Information
Standard status
Pending
Size
3,044 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
ResA
Amenities
Forced Air, Natural Gas, Central
Electric Dryer Hookup, Washer Hookup
Wood, Tile, Vinyl, Carpet
Range
Pantry, Living Room, Dining Room, Kitchen
No
Shingle
Public Transportation, Park, Bike Path, Highway Access
for Gas Range, for Electric Range, for Electric Dryer, Washer Hookup
3
Building Details
Building Size
3,044 SF
Year Built
1907
Stories
3
Listing Agency:
Bond Realty, Inc.
Listed By:
Diane Chuha · License #449500848
(781) 870-1717
Source:
Reishomesearch
Added: Apr 6
Changed: Aug 8
Last Checked: Jul 8 at 4:25AM
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 Bond Realty, Inc.
Investment Insights
Based on property information with market context.
This triplex presents a significant investment opportunity, conveniently located within walking distance of a bus stop and a short drive to the train. The first floor features a spacious living room, a dining room with a closet, a large eat-in kitchen equipped with a gas stove, a full bathroom with handicap bars, and two bedrooms, one of which is currently utilized as a walk-in closet. The second floor includes a large eat-in kitchen with an electric stove and pantry, a dining room with a built-in hutch, a living room, a ceramic tile full bath, a built-in hallway cabinet, and two spacious bedrooms. The third floor offers a spacious living room, an eat-in kitchen with a gas stove, a full bath, and two good-size bedrooms. The first and third floor gas-fired heating systems are approximately 1-2 years old, while the second floor gas heating system is approximately 10 years old. The property features four separate circuit breaker systems, including one for the common area. The roof has 10 years remaining on its warranty, and the exterior has been freshly painted. Gas hot water tanks are approximately 1-5 years old. Each unit has washer and dryer hook-ups in the basement, along with separate storage areas. The third-floor heating system is located in the attic. The property includes a three-car driveway and a nice yard. The property size is 3044 square feet.
Key Highlights
- Excellent investment opportunity with three separate living units.
- Newer gas heating systems on the first and third floors (approx. 1‑2 years old).
- Roof warranty with 10 years remaining.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,412
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,288,240
$1.3M
Cap Rate 7%
$920,171
$920.2K
Cap Rate 9%
$715,689
$715.7K
Market Conditions
NOI Build-Up for 3,044 SF
Gross rent
$96.8K $31.80/SF
− Vacancy
−$4.8K −$1.57/SF
EGI
$92.0K $30.23/SF
− OpEx
−$27.6K −$9.07/SF
NOI
$64.4K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,288,240
Cap Rate 7%
$920,171
Cap Rate 9%
$715,689
Alternative Uses
Best Use
Multifamily LT 5
$920.2K
$805.2K – $1.07M
NOI $64,412 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$865.2K
$757.1K – $1.01M
NOI $60,565 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,143 @ 7.0% cap · market cap 12.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,900
Businesses Nearby
Explore this area
Business Placement
Demographics for 02148, MA
66,274
Population
28,043
Households
2.4
Avg Household Size
36
Median Age
45%
College-Educated
87%
High-School Grad
5.0 sq mi
ZIP Area
13,255
Density / Sq Mi
$95,298
Median Household Income
$56,077
Median Earnings
$2,066
Median Rent
$607,500
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 - Spacious triplex near transportation with updated systems and ample storage.
Where is this triplex located?
The property is located at 13-15 Tufts St Malden, MA.
What is the asking price?
The asking price for this property is $989,900.
What are key features of this property?
This property features: Excellent investment opportunity with three separate living units.; Newer gas heating systems on the first and third floors (approx. 1‑2 years old).; Roof warranty with 10 years remaining.
