Three-Unit Triplex with Updated
227 Washington St, Boston, MA 02121
For Sale
$899,000
Three residential units have updated kitchens and bathrooms, with practical layouts throughout.
Property Size2,460 SF
Days on Market9
Property Features for 227 Washington St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Block Realty
Listed By:
Niko Stafford · License MA #9555394
(774) 808-1091
Source:
Elliman
Added: Nov 1
Changed: Nov 7
Last Checked: Nov 8 at 7:07AM
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
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Investment Insights
Based on property information with market context.
Built in 1890, this Boston triplex contains three residential units with practical living areas. Kitchens and bathrooms have been updated. The property is located at 227 Washington St.
Public transportation, shops, restaurants, and neighborhood services are nearby. The address offers access to Downtown Boston and major commuter routes. Walk Score is 97, Bike Score is 85, and Transit Score is 100.
Public transportation, shops, restaurants, and neighborhood services are nearby. The address offers access to Downtown Boston and major commuter routes. Walk Score is 97, Bike Score is 85, and Transit Score is 100.
Key Highlights
- Three residential units in a Boston triplex
- Updated kitchens and bathrooms
- Built in 1890
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,162
Cap Rate
6.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,243,240
$1.2M
Cap Rate 7%
$888,029
$888.0K
Cap Rate 9%
$690,689
$690.7K
Market Conditions
NOI Build-Up for 2,460 SF
Gross rent
$93.0K $37.80/SF
− Vacancy
−$4.2K −$1.70/SF
EGI
$88.8K $36.10/SF
− OpEx
−$26.6K −$10.83/SF
NOI
$62.2K $25.27/SF
Area
Boston, MA
Vacancy
4.50%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,243,240
Cap Rate 7%
$888,029
Cap Rate 9%
$690,689
Alternative Uses
Best Use
Multifamily LT 5
$888.0K
$777.0K – $1.04M
NOI $62,162 @ 7.0% cap · market cap 6.91%
Second Best
Apartment 5plus
$825.6K
$722.4K – $963.2K
NOI $57,790 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $128,943 @ 7.0% cap · market cap 14.34%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,442
Businesses Nearby
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Business Placement
Demographics for 02121, MA
28,766
Population
11,384
Households
2.5
Avg Household Size
33
Median Age
21%
College-Educated
75%
High-School Grad
1.9 sq mi
ZIP Area
15,140
Density / Sq Mi
$38,565
Median Household Income
$33,700
Median Earnings
$1,316
Median Rent
$548,100
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Boston, MA
Properties on Market for Triplexes in Boston
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units have updated kitchens and bathrooms, with practical layouts throughout.
Where is this triplex located?
The property is located at 227 Washington St Boston, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three residential units in a Boston triplex; Updated kitchens and bathrooms; Built in 1890
