Renovated Three-Unit
New
For Sale
$1,125,000
148 Walnut St, Chelsea, MA 02150
Near Route 1, the property connects to the Tobin Bridge and Downtown Boston.
Property Size3,735 SF
Days on Market6
Property Features for 148 Walnut St
General Information
Standard status
Active
Size
3,735 SF
Property subtype
Multifamily
Units
Unit Mix
2 x 3BR, 1 x 2BR+office
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$11,935
Amenities
coin-operated laundry
individual basement storage
Building Details
Building Size
3,735 SF
Year Built
1900
Listing Agency:
North Shore Realty Advisors
Listed By:
Dan Pouladian · License #423847
(617) 548-7737
Source:
Classifiedrealtygroup
Added: Oct 24
Changed: Oct 29
Last Checked: Oct 28 at 5:18AM
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 North Shore Realty Advisors
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Investment Insights
Based on property information with market context.
This three-family property was built in 1900 and has updated interiors, including luxury vinyl plank flooring, granite countertops, stainless steel Amana appliances, gas ranges, and dishwashers. Bathrooms have been refreshed with tile floors and updated fixtures. A new roof, windows, electrical systems, and Navien tankless heating and hot water systems are among the major improvements. Coin-operated laundry and separate basement storage serve the residences.
The top-floor three-bedroom unit is vacant. Other residences include a first-floor layout with two bedrooms and a dedicated office, as well as two three-bedroom residences with additional space suited to an office or potential fourth bedroom. The property is just off Route 1, with access to the Tobin Bridge and Downtown Boston.
The top-floor three-bedroom unit is vacant. Other residences include a first-floor layout with two bedrooms and a dedicated office, as well as two three-bedroom residences with additional space suited to an office or potential fourth bedroom. The property is just off Route 1, with access to the Tobin Bridge and Downtown Boston.
Key Highlights
- Three‑family property built in 1900
- Top‑floor three‑bedroom residence is vacant
- First‑floor unit has two bedrooms and a dedicated office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,156
Cap Rate
6.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,423,120
$1.4M
Cap Rate 7%
$1,016,514
$1.0M
Cap Rate 9%
$790,622
$790.6K
Market Conditions
NOI Build-Up for 3,735 SF
Gross rent
$107.6K $28.80/SF
− Vacancy
−$5.9K −$1.58/SF
EGI
$101.7K $27.22/SF
− OpEx
−$30.5K −$8.16/SF
NOI
$71.2K $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%
$1,423,120
Cap Rate 7%
$1,016,514
Cap Rate 9%
$790,622
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$889.5K – $1.19M
NOI $71,156 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$926.9K
$811.0K – $1.08M
NOI $64,881 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$2.21M
$1.93M – $2.58M
NOI $154,777 @ 7.0% cap · market cap 13.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,094
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Near Route 1, the property connects to the Tobin Bridge and Downtown Boston.
Where is this triplex located?
The property is located at 148 Walnut St Chelsea, MA.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Three‑family property built in 1900; Top‑floor three‑bedroom residence is vacant; First‑floor unit has two bedrooms and a dedicated office
