Lead-Compliant Three-Family
For Sale
$985,000
148 Congress Ave, Chelsea, MA 02150
Updated three-family with multiple bedrooms, lead compliance, a spacious backyard, and a full-size basement for storage.
Property Size3,924 SF
Days on Market97
Property Features for 148 Congress Ave
General Information
Standard status
Active
Size
3,924 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,165
Amenities
spacious backyard
full-size basement
Building Details
Building Size
3,924 SF
Year Built
1920
Stories
3
Tenancy
Multi
Listing Agency:
Century 21 North East
Listed By:
Luis Tejada · License #449506422
(617) 306-0732
Source:
Classifiedrealtygroup
Added: Jul 25
Changed: Oct 26
Last Checked: Oct 28 at 5:19AM
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 Century 21 North East
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Investment Insights
Based on property information with market context.
This well-maintained, extensively updated three-family residence offers a flexible layout across three levels, with 3 bedrooms on the first floor and 4 bedrooms on both the second and third floors. The building is presented as lead compliant, and includes features such as numerous updates over time, a spacious backyard, and a full-size basement with abundant storage and additional potential.
The property is described as having a convenient Chelsea location close to schools, public transportation, shopping, laundromats, restaurants, parks, and major commuting routes.
As currently configured, it also has existing rental income and is positioned for continued rental growth, according to the seller’s remarks.
The property is described as having a convenient Chelsea location close to schools, public transportation, shopping, laundromats, restaurants, parks, and major commuting routes.
As currently configured, it also has existing rental income and is positioned for continued rental growth, according to the seller’s remarks.
Key Highlights
- Updated three‑family built in 1920 with extensive updates throughout the years
- Unit layout: 3 bedrooms on the first floor, plus 4 bedrooms each on the second and third floors
- Lead compliant for added peace of mind for tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,757
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,495,140
$1.5M
Cap Rate 7%
$1,067,957
$1.1M
Cap Rate 9%
$830,633
$830.6K
Market Conditions
NOI Build-Up for 3,924 SF
Gross rent
$113.0K $28.80/SF
− Vacancy
−$6.2K −$1.58/SF
EGI
$106.8K $27.22/SF
− OpEx
−$32.0K −$8.16/SF
NOI
$74.8K $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 Rate 5%
$1,495,140
Cap Rate 7%
$1,067,957
Cap Rate 9%
$830,633
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$934.5K – $1.25M
NOI $74,757 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$973.8K
$852.1K – $1.14M
NOI $68,165 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$2.32M
$2.03M – $2.71M
NOI $162,610 @ 7.0% cap · market cap 16.51%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,945
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Updated three-family with multiple bedrooms, lead compliance, a spacious backyard, and a full-size basement for storage.
Where is this triplex located?
The property is located at 148 Congress Ave Chelsea, MA.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Updated three‑family built in 1920 with extensive updates throughout the years; Unit layout: 3 bedrooms on the first floor, plus 4 bedrooms each on the second and third floors; Lead compliant for added peace of mind for tenants
