Triplex with
For Sale
$1,325,000
Pending
28 Morse St, Watertown, MA 02472
Three-floor residence offers varied unit layouts, a large parking area, and gas-fired heating and hot water.
Property Size4,285 SF
Lot Size0.19 Acres
Days on Market69
Property Features for 28 Morse St
General Information
Standard status
Pending
Size
4,285 SF
Lot size
0.19 Acres
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Amenities
laundry area
Building Details
Year Built
1900
Buildings
1
Stories
3
Construction
Mansard
Tenancy
Multi
Listing Agency:
Karen Butt, Compass
Listed By:
The Kristin Gennetti Group
(781) 704-7040
Source:
Kristingennetti
Added: Jul 30
Changed: Oct 6
Last Checked: Oct 5 at 6:38PM
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 Karen Butt, Compass
Investment Insights
Based on property information with market context.
Classic Mansard-style triplex with approximately 4,285 square feet of living space across three floors and 14 total rooms. Unit 1 has been thoroughly renovated with large bedrooms, an open living room, and an eat-in kitchen. Unit 2 is an expansive three-bedroom layout with an open floor plan and large bedrooms, while Unit 3 includes two bedrooms, a newer kitchen, a newly renovated bathroom, and generous bedrooms with abundant natural light.
The property sits on an 8,250-square-foot lot with a large parking area and two carports that can accommodate four cars. A 1,516-square-foot unfinished basement provides utility storage and laundry space. Heating and hot water systems are gas. Built in 1900, the residence is located at 28 Morse St in Watertown, with a Walk Score of 83, Bike Score of 66, and Transit Score of 42.
The property sits on an 8,250-square-foot lot with a large parking area and two carports that can accommodate four cars. A 1,516-square-foot unfinished basement provides utility storage and laundry space. Heating and hot water systems are gas. Built in 1900, the residence is located at 28 Morse St in Watertown, with a Walk Score of 83, Bike Score of 66, and Transit Score of 42.
Key Highlights
- 4,285 SF of living space across three floors and 14 total rooms
- 8,250 SF lot with a large parking area
- Two carports accommodating 4 cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$90,672
Cap Rate
6.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,813,440
$1.8M
Cap Rate 7%
$1,295,314
$1.3M
Cap Rate 9%
$1,007,467
$1.0M
Market Conditions
NOI Build-Up for 4,285 SF
Gross rent
$136.3K $31.80/SF
− Vacancy
−$6.7K −$1.57/SF
EGI
$129.5K $30.23/SF
− OpEx
−$38.9K −$9.07/SF
NOI
$90.7K $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%
$1,813,440
Cap Rate 7%
$1,295,314
Cap Rate 9%
$1,007,467
Alternative Uses
Best Use
Multifamily LT 5
$1.30M
$1.13M – $1.51M
NOI $90,672 @ 7.0% cap · market cap 6.84%
Second Best
Apartment 5plus
$1.22M
$1.07M – $1.42M
NOI $85,257 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$2.54M
$2.22M – $2.96M
NOI $177,569 @ 7.0% cap · market cap 13.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,243
Businesses Nearby
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Business Placement
Demographics for 02472, MA
35,392
Population
17,069
Households
2.1
Avg Household Size
39
Median Age
67%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
8,848
Density / Sq Mi
$123,383
Median Household Income
$77,537
Median Earnings
$2,356
Median Rent
$737,600
Median Home Value
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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-floor residence offers varied unit layouts, a large parking area, and gas-fired heating and hot water.
Where is this triplex located?
The property is located at 28 Morse St Watertown, MA.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: 4,285 SF of living space across three floors and 14 total rooms; 8,250 SF lot with a large parking area; Two carports accommodating 4 cars
