Three-Family Residential
For Sale
$869,900
Pending
259 Chelsea St, Boston, MA 02128
Three one-bedroom units with separate utilities, rear decks, and a fenced backyard, with major updates including a recent roof.
Property Size2,118 SF
Days on Market54
Property Features for 259 Chelsea St
General Information
Standard status
Pending
Size
2,118 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,089
Amenities
rear decks
fenced backyard
Listing Agency:
eXp Realty LLC - Corporate Office
(888) 854-7493
Listed By:
The TrustPoint Group · License #.
(617) 294-5081
Source:
Exprealty
Added: Jul 22
Changed: Sep 2
Last Checked: Sep 12 at 3:19PM
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 eXp Realty LLC - Corporate Office
Investment Insights
Based on property information with market context.
This three-family residential income property offers three one-bedroom units. The units feature functional layouts, with hardwood flooring in many areas. Utilities are separately metered for each unit, supporting independent tenant control. The first-floor unit includes an updated kitchen with white cabinetry, granite countertops, and stainless steel appliances, while the additional units offer spacious rooms and flexible living areas.
The exterior includes rear decks and a fenced backyard, providing usable outdoor space. Major updates noted include a roof approximately four years old, replacement windows completed around ten years ago, and newer water heaters.
Conveniently positioned near public transportation and shopping, with access to parks, restaurants, schools, and highway routes, the property is also described as being near the T.
The exterior includes rear decks and a fenced backyard, providing usable outdoor space. Major updates noted include a roof approximately four years old, replacement windows completed around ten years ago, and newer water heaters.
Conveniently positioned near public transportation and shopping, with access to parks, restaurants, schools, and highway routes, the property is also described as being near the T.
Key Highlights
- Three one‑bedroom units in a East Boston three‑family with separately metered utilities.
- First‑floor unit features an updated kitchen with white cabinetry, granite countertops, and stainless steel appliances.
- Rear decks plus a fenced backyard for outdoor space.
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
$53,520
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
6.15%
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%
$1,070,400
$1.1M
Cap Rate 7%
$764,571
$764.6K
Cap Rate 9%
$594,667
$594.7K
Market Conditions
NOI Build-Up for 2,118 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
$80.1K $37.80/SF
− Vacancy
−$3.6K −$1.70/SF
EGI
$76.5K $36.10/SF
− OpEx
−$22.9K −$10.83/SF
NOI
$53.5K $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 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%
$1,070,400
Cap Rate 7%
$764,571
Cap Rate 9%
$594,667
Alternative Uses
Best Use
Multifamily LT 5
$764.6K
$669.0K – $892.0K
NOI $53,520 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$710.8K
$622.0K – $829.3K
NOI $49,756 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,017 @ 7.0% cap · market cap 12.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,105
Businesses Nearby
Explore this area
Business Placement
Demographics for 02128, MA
43,066
Population
19,124
Households
2.3
Avg Household Size
33
Median Age
38%
College-Educated
77%
High-School Grad
5.0 sq mi
ZIP Area
8,613
Density / Sq Mi
$92,079
Median Household Income
$48,549
Median Earnings
$2,009
Median Rent
$680,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three one-bedroom units with separate utilities, rear decks, and a fenced backyard, with major updates including a recent roof.
Where is this triplex located?
The property is located at 259 Chelsea St Boston, MA.
What is the asking price?
The asking price for this property is $869,900.
What are key features of this property?
This property features: Three one‑bedroom units in a East Boston three‑family with separately metered utilities.; First‑floor unit features an updated kitchen with white cabinetry, granite countertops, and stainless steel appliances.; Rear decks plus a fenced backyard for outdoor space.
