Three-Family Residential
223 Washington Boston, MA 02121
223 Washington, Boston, MA, 02121
$1,150,000
For Sale
$1,150,000
Well-configured three-family with a vacant 3-bedroom unit alongside occupied 2- and 3-bedroom rentals.
Property Size2,520 SF
Price / SF$456.35
Days on Market87
Property Features for 223 Washington
General Information
- Standard status
- Active
- Size
- 2,520 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 2022
Listing agency
Block Realty
Listed by
Niko Stafford
(781) 233-1401
Source
Littlefieldre
Added: Apr 28 Updated: Jul 20 at 6:50PM Checked: Jul 22 at 7:03AM
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.
This three-family residential income property includes a mix of unit types, featuring an occupied 2-bedroom unit and an occupied 3-bedroom unit, plus a vacant 3-bedroom unit. The layout is described as spacious with natural light and functional living space in each unit, supporting straightforward living arrangements for multiple households.
Located at 223 Washington St in Dorchester, the property is described as being close to public transportation, shops, and local amenities, with easy access to the T. The vacancy offers flexibility for an owner-occupant or for adjusting rental strategy, while the occupied units provide ongoing rental income.
Overall, the building presents a versatile setup for buyers looking for a three-family structure with both current income and an additional vacant unit ready for immediate use or re-tenanting.
Located at 223 Washington St in Dorchester, the property is described as being close to public transportation, shops, and local amenities, with easy access to the T. The vacancy offers flexibility for an owner-occupant or for adjusting rental strategy, while the occupied units provide ongoing rental income.
Overall, the building presents a versatile setup for buyers looking for a three-family structure with both current income and an additional vacant unit ready for immediate use or re-tenanting.
Key Highlights
- 3‑family building built in 2022 at 223 Washington St in Dorchester
- Rental income: 2‑bed unit rented for $2,500 and 3‑bed unit rented for $3,150
- Includes a vacant 3‑bedroom unit, offering options for an owner‑occupant or to increase rental income
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 | $95.3k | $37.80 |
| − Vacancy | −$4.3k | −$1.70 |
| EGI | $91.0k | $36.10 |
| − OpEx | −$27.3k | −$10.83 |
| NOI | $63.7k | $25.27 |
2,520 SF · lease $37.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$909.7K
$796.0K – $1.06M
NOI $63,679 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$845.7K
$740.0K – $986.7K
NOI $59,200 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,088 @ 7.0% cap · market cap 11.49%
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-configured three-family with a vacant 3-bedroom unit alongside occupied 2- and 3-bedroom rentals.
Where is this triplex located?
The property is located at 223 Washington Boston, MA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 3‑family building built in 2022 at 223 Washington St in Dorchester; Rental income: 2‑bed unit rented for $2,500 and 3‑bed unit rented for $3,150; Includes a vacant 3‑bedroom unit, offering options for an owner‑occupant or to increase rental income
