Three-Family Income
223 Washington Street Boston, MA 02121
223 Washington Street, Boston, MA, 02121
$999,000
For Sale
$999,000
Well-performing 3-family with two occupied units and one vacant 3-bedroom near public transportation.
Property Size2,520 SF
Price / SF$396.43
Days on Market99
Property Features for 223 Washington Street
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) 933-7200
Source
Jmulkerinrealty
Added: Apr 16 Updated: Jul 21 at 6:23AM Checked: Jul 22 at 7:46AM
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 3-family (triplex) offers a practical rental setup with two occupied units and one vacant 3-bedroom unit. The property includes a 2-bedroom unit and a 3-bedroom unit among the currently rented apartments, alongside the additional 3-bedroom space available for an owner-occupant or to further optimize income.
Located at 223 Washington Street in Dorchester, the building is described as being close to public transportation, shops, and local amenities, with easy access to the T.
Located at 223 Washington Street in Dorchester, the building is described as being close to public transportation, shops, and local amenities, with easy access to the T.
Key Highlights
- 3‑family property built in 2022
- Two occupied units and one vacant 3‑bedroom unit
- 2‑bedroom unit rented for $2,500
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 6.37%
Second Best
Apartment 5plus
$845.7K
$740.0K – $986.7K
NOI $59,200 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,088 @ 7.0% cap · market cap 13.22%
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-performing 3-family with two occupied units and one vacant 3-bedroom near public transportation.
Where is this triplex located?
The property is located at 223 Washington Street Boston, MA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 3‑family property built in 2022; Two occupied units and one vacant 3‑bedroom unit; 2‑bedroom unit rented for $2,500
