Three-Unit Residential Income
175 Princeton Street Boston, MA 02128
175 Princeton Street, Boston, MA, 02128
$1,675,000
For Sale
$1,675,000
Three-story building with three condos: two 4-bed/2-bath units and one 4-bed/1.5-bath unit with condo-quality finishes.
Property Size4,128 SF
Lot Size0.08 Acres
Price / SF$405.77
Days on Market55
Property Features for 175 Princeton Street
General Information
- Standard status
- Active
- Size
- 4,128 SF
- Lot size
- 0.08 Acres
- Property subtype
- Multi-family
Building Details
- Year Built
- 1910
Listing agency
Horvath & Tremblay
Listed by
Kelleher - Pentore Team
(617) 731-4644
Source
Hammondre
Added: May 29 Updated: Jul 21 at 2:42PM Checked: Jul 22 at 7:20AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
175 Princeton Street is a three-story residential income building containing three (3) units with 4,128 square feet of gross living area in 5,268 square feet of total gross area, situated on a 0.08-acre parcel. The units are finished to condo quality, with granite countertops, updated cabinetry, and stainless steel appliances. Dishwashers are included, and there are plumbing and electrical upgrades throughout.
Each unit has its own condo setup, and tenants are responsible for all utilities, including gas-powered heat and hot water, separately metered electricity, and city water and sewer. Unit 3 includes in-unit laundry, while Units 1 and 2 have laundry in the basement. There is also a recently finished bonus room in the basement that can add to Unit 1’s square footage. The property is currently assessed as Three Condos, with an opportunity noted to convert back into a 3-Unit property and potentially reduce taxes. The current assessed value is $1,763,700 as Three Condos.
Each unit has its own condo setup, and tenants are responsible for all utilities, including gas-powered heat and hot water, separately metered electricity, and city water and sewer. Unit 3 includes in-unit laundry, while Units 1 and 2 have laundry in the basement. There is also a recently finished bonus room in the basement that can add to Unit 1’s square footage. The property is currently assessed as Three Condos, with an opportunity noted to convert back into a 3-Unit property and potentially reduce taxes. The current assessed value is $1,763,700 as Three Condos.
Key Highlights
- Three‑story building built in 1910 with 3 units totaling 4,128 SF gross living area (5,268 SF gross area) on a 0.08‑acre parcel.
- Unit mix: two 4‑bedroom/2‑bath units plus one 4‑bedroom/1.5‑bath unit.
- Condo‑quality finishes across all units, including granite countertops, updated cabinetry, and stainless steel appliances with dishwashers.
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 | $156.0k | $37.80 |
| − Vacancy | −$7.0k | −$1.70 |
| EGI | $149.0k | $36.10 |
| − OpEx | −$44.7k | −$10.83 |
| NOI | $104.3k | $25.27 |
4,128 SF · lease $37.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.49M
$1.30M – $1.74M
NOI $104,312 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$1.39M
$1.21M – $1.62M
NOI $96,975 @ 7.0% cap · market cap 5.79%
Theoretical Best
Office A
$3.09M
$2.70M – $3.61M
NOI $216,373 @ 7.0% cap · market cap 12.92%
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-story building with three condos: two 4-bed/2-bath units and one 4-bed/1.5-bath unit with condo-quality finishes.
Where is this triplex located?
The property is located at 175 Princeton Street Boston, MA.
What is the asking price?
The asking price for this property is $1,675,000.
What are key features of this property?
This property features: Three‑story building built in 1910 with 3 units totaling 4,128 SF gross living area (5,268 SF gross area) on a 0.08‑acre parcel.; Unit mix: two 4‑bedroom/2‑bath units plus one 4‑bedroom/1.5‑bath unit.; Condo‑quality finishes across all units, including granite countertops, updated cabinetry, and stainless steel appliances with dishwashers.
