Turnkey Three-Building
223-227 Washington Street Boston, MA 02121
223-227 Washington Street, Boston, MA, 02121
$2,900,000
For Sale
$2,900,000
Three multifamily buildings include a 2022 new construction property and two completely gut-renovated buildings with in-unit laundry.
Property Size7,500 SF
Price / SF$386.67
Days on Market57
Property Features for 223-227 Washington Street
General Information
- Standard status
- Active
- Size
- 7,500 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 2022
Listing agency
Block Realty
Listed by
Niko Stafford
(508) 394-6588
Source
Capecodera
Added: May 27 Updated: Jul 21 at 1:11PM Checked: Jul 22 at 7:31AM
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 Block Realty
Investment Insights
Based on property information with market context.
223-225-227 Washington Street offers a turnkey three-building multifamily portfolio. One building, 225 Washington, was newly constructed in 2022, and the other two buildings, 223 and 227, have been completely gut renovated. Units are described as featuring open-concept layouts, shaker cabinetry, stone countertops, stainless steel appliances, recessed lighting, updated bathrooms, and laundry.
The portfolio is located in Dorchester and is described as convenient to public transportation, major highways, shopping, restaurants, parks, and Downtown Boston.
Offered for sale as a combined investment, the property is presented as low-maintenance ownership based on the recently completed construction and renovations.
The portfolio is located in Dorchester and is described as convenient to public transportation, major highways, shopping, restaurants, parks, and Downtown Boston.
Offered for sale as a combined investment, the property is presented as low-maintenance ownership based on the recently completed construction and renovations.
Key Highlights
- Three‑building multifamily portfolio at 223‑225‑227 Washington Street
- 225 Washington Street newly built in 2022
- 223 and 227 Washington Street have been completely gut renovated
Local Financial Insights For Apartment 5plus
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 | $333.0k | $44.40 |
| − Vacancy | −$12.7k | −$1.69 |
| EGI | $320.3k | $42.71 |
| − OpEx | −$144.2k | −$19.22 |
| NOI | $176.2k | $23.49 |
7,500 SF · lease $44.40/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.52M
$2.20M – $2.94M
NOI $176,190 @ 7.0% cap · market cap 6.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.62M
$4.91M – $6.55M
NOI $393,120 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Three multifamily buildings include a 2022 new construction property and two completely gut-renovated buildings with in-unit laundry.
Where is this multifamily property located?
The property is located at 223-227 Washington Street Boston, MA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Three‑building multifamily portfolio at 223‑225‑227 Washington Street; 225 Washington Street newly built in 2022; 223 and 227 Washington Street have been completely gut renovated
