Three-Unit Residential Income
197 Lexington Street Boston, MA 02128
197 Lexington Street, Boston, MA, 02128
$994,990
Pending
For Sale
$994,990
Pending
Well-maintained three-family home with open layouts, central AC, modern finishes, and a new rear deck.
Property Size2,307 SF
Days on Market85
Property Features for 197 Lexington Street
General Information
- Standard status
- Pending
- Size
- 2,307 SF
- Property subtype
- Multi-family / 3 Family
Building Details
- Year Built
- 1920
Listing agency
eXp Realty
(888) 854-7493
Listed by
The Denman Group · License #H-63985
(888) 854-7493
Source
Compass
Added: Apr 29 Updated: Jul 20 at 5:02PM Checked: Jul 21 at 5:55AM
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 eXp Realty
Investment Insights
Based on property information with market context.
A well-maintained three-family property in East Boston’s Eagle Hill, cared for by the same ownership for years and ready for new stewardship. Each unit features an open floor plan, hardwood floors, a full bath, central AC, and a kitchen with ample cabinet space plus a breakfast bar. Units 2 and 3 also include a private office nook. Recent updates include renovated bathroom vanities, modern light fixtures, Nest thermostats, stainless steel appliances, and electronic door locks throughout, with two of three water heaters replaced. A brand new rear deck was added within the last two years.
Basement space offers additional expansion potential, with common laundry and a new brand hot water heater. One unit is currently vacant and move-in ready, while two units are leased. The layout also presents a potential path for condo conversion, subject to applicable approvals and requirements.
Close to public transit and highway access, the property provides convenient access to East Boston amenities. Showings begin at OH on Saturday and Sunday.
Basement space offers additional expansion potential, with common laundry and a new brand hot water heater. One unit is currently vacant and move-in ready, while two units are leased. The layout also presents a potential path for condo conversion, subject to applicable approvals and requirements.
Close to public transit and highway access, the property provides convenient access to East Boston amenities. Showings begin at OH on Saturday and Sunday.
Key Highlights
- Well‑maintained 3‑family in East Boston’s Eagle Hill, same ownership for years
- Each unit features an open floor plan, hardwood floors, full bath, and central AC
- Recent updates include renovated bathroom vanities, modern light fixtures, Nest thermostats, stainless steel appliances, and electronic door locks
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 | $87.2k | $37.80 |
| − Vacancy | −$3.9k | −$1.70 |
| EGI | $83.3k | $36.10 |
| − OpEx | −$25.0k | −$10.83 |
| NOI | $58.3k | $25.27 |
2,307 SF · lease $37.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$832.8K
$728.7K – $971.6K
NOI $58,296 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$774.2K
$677.5K – $903.3K
NOI $54,196 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $120,924 @ 7.0% cap · market cap 12.15%
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 - Well-maintained three-family home with open layouts, central AC, modern finishes, and a new rear deck.
Where is this triplex located?
The property is located at 197 Lexington Street Boston, MA.
What is the asking price?
The asking price for this property is $994,990.
What are key features of this property?
This property features: Well‑maintained 3‑family in East Boston’s Eagle Hill, same ownership for years; Each unit features an open floor plan, hardwood floors, full bath, and central AC; Recent updates include renovated bathroom vanities, modern light fixtures, Nest thermostats, stainless steel appliances, and electronic door locks
