Three-Unit Corner Residential
261-263 Proctor Avenue Revere, MA 02151
261-263 Proctor Avenue, Revere, MA, 02151
$1,250,000
For Sale
$1,250,000
Well-maintained three-family on a corner lot with separate gas heat, washer/dryer hookups, and an 18-by-25 masonry garage.
Property Size2,600 SF
Price / SF$480.77
Days on Market149
Property Features for 261-263 Proctor Avenue
General Information
- Standard status
- Active
- Size
- 2,600 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Atlantic Realty Services
Listed by
Maria DiPierro
(781) 797-4028
Source
Thepropernest
Added: Feb 23 Updated: Jul 21 at 6:08PM Checked: Jul 21 at 6:08PM
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 Atlantic Realty Services
Investment Insights
Based on property information with market context.
This well-maintained three-family corner property is arranged across three floors, with each unit having its own separate gas heat. The 1st floor offers two bedrooms, the 2nd floor provides two to three bedrooms, and the 3rd floor features a one-bedroom layout described as completely renovated and equipped with HVAC. Washer and dryer hookups are available for all three apartments, and the basement includes a full bath.
The exterior improvements described include a newly installed roof sheathed with plywood and shingled, along with recent vinyl clad picture windows on the front facade and in the kitchens. An all-masonry 18 ft by 25 ft garage adds usable storage and potential flexibility, with the property remarks noting the possibility of an ADU over the garage. Four off-street parking spaces are provided.
The offering is listed as for sale and includes all expenses, per the remarks.
The exterior improvements described include a newly installed roof sheathed with plywood and shingled, along with recent vinyl clad picture windows on the front facade and in the kitchens. An all-masonry 18 ft by 25 ft garage adds usable storage and potential flexibility, with the property remarks noting the possibility of an ADU over the garage. Four off-street parking spaces are provided.
The offering is listed as for sale and includes all expenses, per the remarks.
Key Highlights
- Three‑family on a corner lot built in 1900 with three levels of living space
- 1st floor has 2 bedrooms; 2nd floor has 2 to 3 bedrooms; 3rd floor has 1 completely renovated bedroom with HVAC
- Separate gas heat for each apartment
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 | $74.9k | $28.80 |
| − Vacancy | −$4.1k | −$1.58 |
| EGI | $70.8k | $27.22 |
| − OpEx | −$21.2k | −$8.16 |
| NOI | $49.5k | $19.05 |
2,600 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$707.6K
$619.2K – $825.6K
NOI $49,533 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$645.2K
$564.6K – $752.8K
NOI $45,165 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,743 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Well-maintained three-family on a corner lot with separate gas heat, washer/dryer hookups, and an 18-by-25 masonry garage.
Where is this triplex located?
The property is located at 261-263 Proctor Avenue Revere, MA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Three‑family on a corner lot built in 1900 with three levels of living space; 1st floor has 2 bedrooms; 2nd floor has 2 to 3 bedrooms; 3rd floor has 1 completely renovated bedroom with HVAC; Separate gas heat for each apartment
