Two-Unit Duplex with Coin-Op
New
For Sale
$1,125,000
24 Charles Street, Watertown, MA 02472
The property combines two-bedroom residences with tenant laundry, off-street parking, and two storage sheds.
Property Size2,126 SF
Days on Market2
Property Features for 24 Charles Street
General Information
Standard status
Active
Size
2,126 SF
Total Parking Spaces
6
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$917,900
Amenities
central air
fireplace
off street parking
coin op laundry
storage sheds
Building Details
Building Size
2,126 SF
Year Built
1900
Buildings
1
Construction
brick & vinyl
Listing Agency:
Real Estate Pros Inc.
Listed By:
Jamie Venezia
(617) 682-6680
Source:
Classifiedrealtygroup
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 21 at 2:20AM
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 Real Estate Pros Inc.
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Investment Insights
Based on property information with market context.
Built in 1900, this two-unit duplex has a brick and vinyl exterior. The lower residence includes a living room, kitchen, two bedrooms, and a full bathroom. The upper unit was renovated in 2010 and features central air, an open layout, a granite island kitchen, formal dining area, and a family room with a fireplace. It also has two bedrooms and a full bathroom with laundry. The building has updated 300-amp electrical service, coin-operated laundry for tenants, off-street parking, and two storage sheds.
Key Highlights
- Two‑unit duplex built in 1900
- Upper unit renovated in 2010 with central air
- Updated 300‑amp electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,987
Cap Rate
4.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$899,740
$899.7K
Cap Rate 7%
$642,671
$642.7K
Cap Rate 9%
$499,856
$499.9K
Market Conditions
NOI Build-Up for 2,126 SF
Gross rent
$67.6K $31.80/SF
− Vacancy
−$3.3K −$1.57/SF
EGI
$64.3K $30.23/SF
− OpEx
−$19.3K −$9.07/SF
NOI
$45.0K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$899,740
Cap Rate 7%
$642,671
Cap Rate 9%
$499,856
Alternative Uses
Best Use
Multifamily LT 5
$642.7K
$562.3K – $749.8K
NOI $44,987 @ 7.0% cap · market cap 4.00%
Second Best
Apartment 5plus
$604.3K
$528.8K – $705.0K
NOI $42,300 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,101 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
983
Businesses Nearby
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Business Placement
Demographics for 02472, MA
35,392
Population
17,069
Households
2.1
Avg Household Size
39
Median Age
67%
College-Educated
95%
High-School Grad
4.0 sq mi
ZIP Area
8,848
Density / Sq Mi
$123,383
Median Household Income
$77,537
Median Earnings
$2,356
Median Rent
$737,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The property combines two-bedroom residences with tenant laundry, off-street parking, and two storage sheds.
Where is this duplex located?
The property is located at 24 Charles Street Watertown, MA.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1900; Upper unit renovated in 2010 with central air; Updated 300‑amp electrical service
