4-Unit Apartment Building with
New
For Sale
$1,275,000
20 W Water St, Wakefield, MA 01880
Four one-bedroom residences have separate utilities, and shared coin-operated laundry serves the building.
Property Size3,347 SF
Days on Market4
Property Features for 20 W Water St
General Information
Standard status
Active
Size
3,347 SF
Property subtype
4 Family - 4 Units Up/Down
Occupancy
100%
Units
Unit Mix
4 x 1BR
Multifamily Units
4
Individually Metered Utilities
unspecified utilities
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$10,551
Amenities
coin-op laundry
Building Details
Building Size
3,347 SF
Year Built
1893
Buildings
1
Listing Agency:
Barrett, Chris. J., REALTORS
Listed By:
Christopher Barrett · License #9533397
(781) 248-5011
Source:
Donnellyandco
Added: Oct 21
Changed: Oct 23
Last Checked: Oct 23 at 12:14PM
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 Barrett, Chris. J., REALTORS
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Investment Insights
Based on property information with market context.
This Wakefield apartment property contains four one-bedroom units with varying layouts. The building dates to 1893 and is fully leased, with separate utilities for each apartment and coin-operated laundry on site.
Two driveways provide parking for 8+ vehicles. The property is situated between downtown Wakefield and the North Ave commuter rail station.
Two driveways provide parking for 8+ vehicles. The property is situated between downtown Wakefield and the North Ave commuter rail station.
Key Highlights
- Four one‑bedroom apartments in a 3,347‑square‑foot building
- Fully leased residential property
- Separate utilities for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,824
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,416,480
$1.4M
Cap Rate 7%
$1,011,771
$1.0M
Cap Rate 9%
$786,933
$786.9K
Market Conditions
NOI Build-Up for 3,347 SF
Gross rent
$106.4K $31.80/SF
− Vacancy
−$5.3K −$1.57/SF
EGI
$101.2K $30.23/SF
− OpEx
−$30.4K −$9.07/SF
NOI
$70.8K $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%
$1,416,480
Cap Rate 7%
$1,011,771
Cap Rate 9%
$786,933
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$885.3K – $1.18M
NOI $70,824 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$951.3K
$832.4K – $1.11M
NOI $66,594 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,699 @ 7.0% cap · market cap 10.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,536
Businesses Nearby
Explore this area
Business Placement
Demographics for 01880, MA
27,071
Population
11,513
Households
2.4
Avg Household Size
43
Median Age
57%
College-Educated
96%
High-School Grad
7.4 sq mi
ZIP Area
3,658
Density / Sq Mi
$130,419
Median Household Income
$78,860
Median Earnings
$1,872
Median Rent
$670,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom residences have separate utilities, and shared coin-operated laundry serves the building.
Where is this quadplex located?
The property is located at 20 W Water St Wakefield, MA.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Four one‑bedroom apartments in a 3,347‑square‑foot building; Fully leased residential property; Separate utilities for each apartment
