Legal Three-Family
204-206 School Street Watertown, MA 02472
204-206 School Street, Watertown, MA, 02472
$1,400,000
For Sale
$1,400,000
Well-maintained three-unit building with separate heating systems and updated elements including an improved kitchen in Unit 2.
Property Size3,166 SF
Price / SF$442.20
Days on Market53
Property Features for 204-206 School Street
General Information
- Standard status
- Active
- Size
- 3,166 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1923
Listing agency
Coldwell Banker Realty - Belmont
Listed by
Bob Airasian
(617) 750-6378
Source
Benoitrealestate
Added: May 30 Updated: Jul 20 at 11:55PM Checked: Jul 20 at 11:55PM
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 Coldwell Banker Realty - Belmont
Investment Insights
Based on property information with market context.
This well-maintained legal three-family residence offers three levels of living space with hardwood floors, abundant natural light, and strong ceiling height. The property includes 16 rooms, 6 bedrooms, and 3 bathrooms, and features an updated kitchen in Unit 2. Vinyl siding, replacement windows, and an architectural shingle roof help round out the exterior improvements.
Each unit is served by its own heating system, electrical panel, and hot water tank, supporting independent operations for the three apartments. The building is described as being on the bus line and minutes from Arsenal Yards, Charles River, Coolidge Sq., Cambridge/Boston, Watertown Schools, and major highways.
For sellers and buyers evaluating residential income property, this setup provides a straightforward three-unit configuration with separate mechanical servicing for each home.
Each unit is served by its own heating system, electrical panel, and hot water tank, supporting independent operations for the three apartments. The building is described as being on the bus line and minutes from Arsenal Yards, Charles River, Coolidge Sq., Cambridge/Boston, Watertown Schools, and major highways.
For sellers and buyers evaluating residential income property, this setup provides a straightforward three-unit configuration with separate mechanical servicing for each home.
Key Highlights
- Legal 3‑family home built in 1923 with 3 levels of living space
- 16 rooms total with 6 bedrooms and 3 bathrooms across the three units
- Each unit has its own heating system, electrical panel, and hot water tank
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 | $100.7k | $31.80 |
| − Vacancy | −$5.0k | −$1.57 |
| EGI | $95.7k | $30.23 |
| − OpEx | −$28.7k | −$9.07 |
| NOI | $67.0k | $21.16 |
3,166 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$957.1K
$837.4K – $1.12M
NOI $66,994 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$899.9K
$787.4K – $1.05M
NOI $62,993 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$1.87M
$1.64M – $2.19M
NOI $131,198 @ 7.0% cap · market cap 9.37%
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-unit building with separate heating systems and updated elements including an improved kitchen in Unit 2.
Where is this triplex located?
The property is located at 204-206 School Street Watertown, MA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Legal 3‑family home built in 1923 with 3 levels of living space; 16 rooms total with 6 bedrooms and 3 bathrooms across the three units; Each unit has its own heating system, electrical panel, and hot water tank
