Renovated Chatham Housing
1547 Main Street Chatham, MA 02633
1547 Main Street, Chatham, MA, 02633
$2,350,000
For Sale
$2,350,000
Fully renovated complex with 12 units, ideal for long-term housing.
Property Size5,547 SF
Price / SF$423.65
Days on Market85
Property Features for 1547 Main Street
General Information
- Standard status
- Active
- Size
- 5,547 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1960
Listing Agency
Christie's International Real Estate Atlantic Brokerage
Listed by
Evan Dean
(508) 428-4400
Source
Franksullivanrealestate
Added: Apr 24 Checked: Jul 16 at 1:25 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 Christie's International Real Estate Atlantic Brokerage
Investment Insights
Based on property information with market context.
Located on Main Street in Chatham, this renovated housing complex presents an investment opportunity in a supply-constrained market. Approved for 33 beds, the property features 12 units designed for comfort and efficiency, making it suitable for workforce, employee, or long-term housing. The layout includes 10 individual room units, each with a bath, kitchenette, heating, and cooling. Additionally, there is a main house with four bedrooms, three bathrooms, and a full kitchen, along with an attached two-bedroom apartment that includes its own kitchen and bath. The property, totaling 5547 square feet, is connected to the town sewer and is located on the Route 28 bus line. Renovations completed in 2026 include updates to flooring, plumbing, electrical systems, siding, paint, roof, and landscaping. A shared laundry room is equipped with three new coin-operated washer and dryer sets. With leases already in place, the property offers immediate income potential. This turnkey, low-maintenance asset is positioned in a market with persistent housing demand.
Key Highlights
- Fully renovated in 2026, turnkey and low‑maintenance.
- Approved for 33 beds in a supply‑constrained market.
- 12 total units: 10 individual room units, a 4‑bedroom house, and a 2‑bedroom apartment.
Local Financial Insights For Apartment 5plus
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 | $208.3k | $37.56 |
| − Vacancy | −$6.3k | −$1.13 |
| EGI | $202.1k | $36.43 |
| − OpEx | −$90.9k | −$16.39 |
| NOI | $111.2k | $20.04 |
5,547 SF · lease $37.56/SF/yr · vacancy 3.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.59M
$1.39M – $1.85M
NOI $111,152 @ 7.0% cap · market cap 4.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.26M
$1.98M – $2.64M
NOI $158,231 @ 7.0% cap · market cap 6.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully renovated complex with 12 units, ideal for long-term housing.
Where is this apartment building located?
The property is located at 1547 Main Street Chatham, MA.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: Fully renovated in 2026, turnkey and low‑maintenance.; Approved for 33 beds in a supply‑constrained market.; 12 total units: 10 individual room units, a 4‑bedroom house, and a 2‑bedroom apartment.
