Medford Triplex Near Tufts
228 Harvard Street, Medford, MA 02155
Vacant Medford triplex with high ceilings and convenient location.
Type:Multi-family / 3 Family
Property size:
3,188 SFPrice / SF:
$407/SF- Added:
- Mar 12, 2026
- Days on Market:
- 83
- Last Refresh:
- Mar 17 at 12:31 am
Property Features for 228 Harvard Street
General Information
- Standard status
- Active
- Size
- 3,188 SF
- Property subtype
- Multi-family / 3 Family
Building Details
- Year Built
- 1900
Listing agent Pauline Marino License #9514233 (781) 862-2600
Listing office Coldwell Banker Realty - Lexington (781) 862-2600
Listing date Mar 12, 2026
Source Compass
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 - Lexington
HighLights
- Excellent location: 2 minutes to Tufts University and Green Line, close to Davis, Harvard, and Porter Squares.
- Multi‑family home suitable for various uses: condo conversion, multi‑generational living, or investment property.
- Each of the 3 units has washer and dryer hookups.
- Features include high ceilings, large rooms, wood floors, and natural woodwork.
- Includes a 2‑car garage and 3‑car parking on a level lot.
- Basement with high ceilings offers potential for finishing into additional living space or an auxiliary apartment.
Overview
This vacant three-family home in Medford presents various opportunities, including potential condo conversion, multi-generational living, or investment through renting all units, or living in one unit while renting the others. The basement features high ceilings, offering the possibility of finishing it for additional living space or an auxiliary apartment. The property includes high ceilings, large rooms, wood floors, and natural woodwork. Each of the three units is equipped with washer and dryer hookups. Situated on a level lot, the property also features a two-car garage and parking space for three vehicles. The location is near Tufts University and the Green Line, with Davis Square a short distance away. Harvard and Porter Square are also easily accessible. Assembly Row, with its shops and restaurants, is also nearby. The property provides convenient access to Boston, Logan Airport, and Route 93.
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 | $101.4k | $31.80 |
| − Vacancy | −$5.0k | −$1.57 |
| EGI | $96.4k | $30.23 |
| − OpEx | −$28.9k | −$9.07 |
| NOI | $67.5k | $21.16 |
3,188 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$963.7K
$843.2K – $1.12M
NOI $67,459 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$906.1K
$792.9K – $1.06M
NOI $63,430 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$1.89M
$1.65M – $2.20M
NOI $132,110 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Medford
- County
- Middlesex
- State
- Massachusetts
- Longitude
- -71.1104106
- Latitude
- 42.4039106
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Vacant Medford triplex with high ceilings and convenient location.
Where is this triplex located?
The property is located at 228 Harvard Street Medford, MA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Excellent location: 2 minutes to Tufts University and Green Line, close to Davis, Harvard, and Porter Squares.; Multi‑family home suitable for various uses: condo conversion, multi‑generational living, or investment property.; Each of the 3 units has washer and dryer hookups.
