Three-Family Corner
For Sale
$999,900
161-165 Madison Street, Malden, MA 02148
Corner three-family with renovated units, separate utilities, generous basement storage, and off-street parking.
Property Size3,248 SF
Price / SF$307.85
Days on Market176
Property Features for 161-165 Madison Street
General Information
Standard status
Active
Size
3,248 SF
Total Parking Spaces
2
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Building Details
Year Built
1920
Year Renovated
2012
Tenancy
Multi
Listing Agency:
Century 21 North East
Listed By:
Kristin Gennetti · License #448551493
(781) 704-7040
Source:
Jmulkerinrealty
Added: May 8
Changed: Oct 30
Last Checked: Oct 30 at 6:16PM
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 corner triplex includes three separate units with defined layouts across multiple levels. Unit 1 features an open-concept living, dining, and kitchen area on the first floor, with three bedrooms and a full bathroom on the second floor, plus an additional room and a half bath on the third floor. A basement storage area and a laundry connection support the unit. Unit 3 is arranged over the second and third floors and includes a living room, kitchen, and bedrooms, along with 1 full bathroom and a half bath. Unit 2 includes a kitchen, bedroom, and full bathroom. The property received renovations in 2012, and new siding was completed in 2022. Separate utilities are provided for the units, and the building offers generous basement storage and 2 off-street parking spaces. The property is sold AS IS, and all tenants are tenants at will.
The building is described as being in a convenient location, with access to the Wellington and Malden MBTA, a nearby bus stop, and the Northern Strand Bike Trail. It is also noted as being close to major highways, restaurants, breweries, shops, and with easy access to downtown Malden, Everett, and Assembly Row.
For buyers or operators seeking a multi-unit rental portfolio, this property offers three separate residential units with independent utilities and dedicated basement storage, along with off-street parking. The confirmed unit configurations and recent exterior siding update may simplify near-term planning, while the AS-IS sale and tenants-at-will arrangement provide clarity for buyers evaluating timing and operations.
The building is described as being in a convenient location, with access to the Wellington and Malden MBTA, a nearby bus stop, and the Northern Strand Bike Trail. It is also noted as being close to major highways, restaurants, breweries, shops, and with easy access to downtown Malden, Everett, and Assembly Row.
For buyers or operators seeking a multi-unit rental portfolio, this property offers three separate residential units with independent utilities and dedicated basement storage, along with off-street parking. The confirmed unit configurations and recent exterior siding update may simplify near-term planning, while the AS-IS sale and tenants-at-will arrangement provide clarity for buyers evaluating timing and operations.
Key Highlights
- Corner 3‑family building built in 1920 with renovated units and 2‑car off‑street parking
- Units have separate utilities for each unit
- Renovations completed in 2012; new siding installed in 2022
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,729
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,374,580
$1.4M
Cap Rate 7%
$981,843
$981.8K
Cap Rate 9%
$763,656
$763.7K
Market Conditions
NOI Build-Up for 3,248 SF
Gross rent
$103.3K $31.80/SF
− Vacancy
−$5.1K −$1.57/SF
EGI
$98.2K $30.23/SF
− OpEx
−$29.5K −$9.07/SF
NOI
$68.7K $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%
$1,374,580
Cap Rate 7%
$981,843
Cap Rate 9%
$763,656
Alternative Uses
Best Use
Multifamily LT 5
$981.8K
$859.1K – $1.15M
NOI $68,729 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$923.2K
$807.8K – $1.08M
NOI $64,624 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,596 @ 7.0% cap · market cap 13.46%
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
2,183
Businesses Nearby
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Business Placement
Demographics for 02148, MA
66,274
Population
28,043
Households
2.4
Avg Household Size
36
Median Age
45%
College-Educated
87%
High-School Grad
5.0 sq mi
ZIP Area
13,255
Density / Sq Mi
$95,298
Median Household Income
$56,077
Median Earnings
$2,066
Median Rent
$607,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Corner three-family with renovated units, separate utilities, generous basement storage, and off-street parking.
Where is this triplex located?
The property is located at 161-165 Madison Street Malden, MA.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Corner 3‑family building built in 1920 with renovated units and 2‑car off‑street parking; Units have separate utilities for each unit; Renovations completed in 2012; new siding installed in 2022
