Two-Building Triplex
New
For Sale
$2,300,000
248-252 Washington Street, Norwood, MA 02062
Six occupied apartments share separate utilities, with four adjoining vacant lots included in the offering.
Property Size4,976 SF
Lot Size0.69 Acres
Days on Market5
Property Features for 248-252 Washington Street
General Information
Standard status
Active
Size
4,976 SF
Lot size
0.69 Acres
Property subtype
5-9 Family
Occupancy
100%
Units
Unit Mix
4 x 2BR, 2 x 3/4BR
Multifamily Units
6
Individually Metered Utilities
unspecified utilities
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$14,800
Building Details
Building Size
4,976 SF
Year Built
1959
Buildings
2
Listing Agency:
Capital Realty Group
Listed By:
Michael Lord
(508) 395-8333
Source:
Jonathanradford
Added: Oct 21
Changed: Oct 23
Last Checked: Oct 24 at 11:04PM
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 Capital Realty Group
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Investment Insights
Based on property information with market context.
This Norwood multifamily property combines two three-family buildings with four adjoining vacant lots. The buildings contain six apartments, are fully occupied, and date to 1959. Each has two two-bedroom units and one additional apartment. Improvements include vinyl siding, poured concrete foundations, newer roofs, separate utilities, and off-street parking. The land totals approximately 30,000 SF.
The property at 248-252 Washington Street is near the Westwood line and within walking distance of commuter rail service, shops, restaurants, and everyday amenities. The additional lots are part of the offering; zoning and permitted uses are subject to buyer verification.
The property at 248-252 Washington Street is near the Westwood line and within walking distance of commuter rail service, shops, restaurants, and everyday amenities. The additional lots are part of the offering; zoning and permitted uses are subject to buyer verification.
Key Highlights
- Two three‑family buildings with six fully occupied apartments
- Four adjoining vacant lots; approximately 30,000 SF of land total
- Each building has two two‑bedroom apartments and one additional unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,137
Cap Rate
3.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,782,740
$1.8M
Cap Rate 7%
$1,273,386
$1.3M
Cap Rate 9%
$990,411
$990.4K
Market Conditions
NOI Build-Up for 4,976 SF
Gross rent
$134.4K $27.00/SF
− Vacancy
−$7.0K −$1.41/SF
EGI
$127.3K $25.59/SF
− OpEx
−$38.2K −$7.68/SF
NOI
$89.1K $17.91/SF
Area
Norfolk County, MA
Vacancy
5.22%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,782,740
Cap Rate 7%
$1,273,386
Cap Rate 9%
$990,411
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.49M
NOI $89,137 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$1.17M
$1.03M – $1.37M
NOI $82,244 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$2.95M
$2.58M – $3.44M
NOI $206,204 @ 7.0% cap · market cap 8.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
394
Businesses Nearby
Explore this area
Business Placement
Demographics for 02062, MA
31,611
Population
13,961
Households
2.3
Avg Household Size
41
Median Age
53%
College-Educated
93%
High-School Grad
10.5 sq mi
ZIP Area
3,011
Density / Sq Mi
$97,110
Median Household Income
$60,434
Median Earnings
$2,056
Median Rent
$613,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Six occupied apartments share separate utilities, with four adjoining vacant lots included in the offering.
Where is this triplex located?
The property is located at 248-252 Washington Street Norwood, MA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Two three‑family buildings with six fully occupied apartments; Four adjoining vacant lots; approximately 30,000 SF of land total; Each building has two two‑bedroom apartments and one additional unit
