Three-Family Residential Income
154-156a Franklin Street Malden, MA 02148
154-156a Franklin Street, Malden, MA, 02148
$1,149,900
For Sale
$1,149,900
Three separate units offer back porches, separate utilities, and in-unit or basement laundry arrangements.
Property Size3,472 SF
Price / SF$331.19
Days on Market56
Property Features for 154-156a Franklin Street
General Information
- Standard status
- Active
- Size
- 3,472 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1910
Listing Agency
Century 21 North East
Listed by
Kristin Gennetti
(978) 808-8064
Source
Merryfoxrealty
Added: May 27 Updated: Jul 20 at 5:16 pm Checked: Jul 20 at 5:16 pm
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
Investment Insights
Based on property information with market context.
This three-family residential income property offers a versatile layout with spacious rooms and tall ceilings across approximately 3,500 square feet. Unit 1 includes 3 bedrooms and 1 full bathroom with laundry access in the basement. Unit 2 features 2 bedrooms, 1 bathroom, an on-site laundry area, and an updated open floor plan. Unit 3 provides 3 bedrooms and 1 full bathroom with in-unit laundry.
Each unit has a back porch and separate utilities. The property includes low-maintenance vinyl siding and a new roof completed in 2020, along with gas heating and basement storage. Off-street parking is provided with a paved driveway with turn-around parking, plus a separate grassy yard space.
Tenants are currently tenants-at-will. The home is described as being conveniently located near the Malden MBTA, a bus stop, parks, schools, and the Northern Strand Bike Trail, with Boston access minutes away.
Each unit has a back porch and separate utilities. The property includes low-maintenance vinyl siding and a new roof completed in 2020, along with gas heating and basement storage. Off-street parking is provided with a paved driveway with turn-around parking, plus a separate grassy yard space.
Tenants are currently tenants-at-will. The home is described as being conveniently located near the Malden MBTA, a bus stop, parks, schools, and the Northern Strand Bike Trail, with Boston access minutes away.
Key Highlights
- Three‑family home built in 1910 with approx. 3,500 SF and 15 rooms across three units
- Each unit has back porches and separate utilities for independent living and management
- All units include laundry: Unit 1 has basement laundry access; Unit 2 has an updated open floor plan with laundry area; Unit 3 has in‑unit laundry
Local Financial Insights For Multifamily LT 5
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 | $110.4k | $31.80 |
| − Vacancy | −$5.5k | −$1.57 |
| EGI | $105.0k | $30.23 |
| − OpEx | −$31.5k | −$9.07 |
| NOI | $73.5k | $21.16 |
3,472 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$918.4K – $1.22M
NOI $73,469 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$986.9K
$863.5K – $1.15M
NOI $69,081 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$2.06M
$1.80M – $2.40M
NOI $143,879 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three separate units offer back porches, separate utilities, and in-unit or basement laundry arrangements.
Where is this triplex located?
The property is located at 154-156a Franklin Street Malden, MA.
What is the asking price?
The asking price for this property is $1,149,900.
What are key features of this property?
This property features: Three‑family home built in 1910 with approx. 3,500 SF and 15 rooms across three units; Each unit has back porches and separate utilities for independent living and management; All units include laundry: Unit 1 has basement laundry access; Unit 2 has an updated open floor plan with laundry area; Unit 3 has in‑unit laundry
