Turn-Key Six-Family Apartment
For Sale
$2,695,000
252-254 Crescent Street, Waltham, MA 02453
Fully rented six-family home with updated kitchens, tiled bathrooms, hardwood floors, laundry, and off-street parking.
Property Size4,517 SF
Price / SF$596.63
Days on Market166
Property Features for 252-254 Crescent Street
General Information
Standard status
Active
Size
4,517 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
RES
Occupancy
100%
Net Operating Income
$144,000
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$25,750
Building Details
Building Size
4,517 SF
Year Built
1870
Stories
5
Tenancy
Multi
Listing Agency:
Prestige Realty Experts Inc.
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Mar 25
Changed: Sep 6
Last Checked: Sep 6 at 5:57AM
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 Prestige Realty Experts Inc.
Investment Insights
Based on property information with market context.
Immaculate, fully updated turn-key six-family apartment building offered for sale and currently fully rented. The property features newer kitchens with stone tops and stainless appliances, newer tiled bathrooms, and hardwood flooring throughout. On-site laundry and a mix of off-street parking plus a garage are included.
Located on Waltham’s south side near the Charles River and within walking distance to Moody Street shops, restaurants, and public transportation. The property also provides quick access to Rte 128, Rte 2, and the Mass Pike.
A group showing is scheduled for 04/16/2026 from 5:00 PM to 6:00 PM.
Located on Waltham’s south side near the Charles River and within walking distance to Moody Street shops, restaurants, and public transportation. The property also provides quick access to Rte 128, Rte 2, and the Mass Pike.
A group showing is scheduled for 04/16/2026 from 5:00 PM to 6:00 PM.
Key Highlights
- Fully rented six‑family home, built in 1870.
- Newer kitchens with stone tops and stainless appliances.
- Newer tiled bathrooms.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$89,873
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,797,460
$1.8M
Cap Rate 7%
$1,283,900
$1.3M
Cap Rate 9%
$998,589
$998.6K
Market Conditions
NOI Build-Up for 4,517 SF
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.
Gross rent
$172.4K $38.16/SF
− Vacancy
−$9.0K −$1.98/SF
EGI
$163.4K $36.18/SF
− OpEx
−$73.5K −$16.28/SF
NOI
$89.9K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,797,460
Cap Rate 7%
$1,283,900
Cap Rate 9%
$998,589
Alternative Uses
Best Use
Apartment 5plus
$1.28M
$1.12M – $1.50M
NOI $89,873 @ 7.0% cap · market cap 3.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.67M
$2.34M – $3.12M
NOI $187,183 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,775
Businesses Nearby
Explore this area
Business Placement
Demographics for 02453, MA
31,854
Population
13,163
Households
2.4
Avg Household Size
34
Median Age
59%
College-Educated
92%
High-School Grad
3.6 sq mi
ZIP Area
8,848
Density / Sq Mi
$114,029
Median Household Income
$58,036
Median Earnings
$2,063
Median Rent
$666,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully rented six-family home with updated kitchens, tiled bathrooms, hardwood floors, laundry, and off-street parking.
Where is this apartment building located?
The property is located at 252-254 Crescent Street Waltham, MA.
What is the asking price?
The asking price for this property is $2,695,000.
What are key features of this property?
This property features: Fully rented six‑family home, built in 1870.; Newer kitchens with stone tops and stainless appliances.; Newer tiled bathrooms.
