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Building Details

Year Built 2026

Buildings 1

Listing Agency: Mayflower Realty Group

Listed By: James Gattuso Show Phone

Source: Lockandkeyre

Added: Oct 6 Changed: Oct 15 Last Checked: Oct 15 at 12:38AM

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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 Mayflower Realty Group

Investment Insights

Based on property information with market context.

This three-unit residential property totals 3,973 square feet and was built in 2026. Each apartment has 3 bedrooms and 1.5 baths across approximately 1,300 square feet, with in-unit laundry and generous closet storage. Recent work includes new roofing, siding, insulation, windows, front steps, HVAC and ductwork, plumbing, electrical, and a house waterline. The building also has a fire suppression system and three high-efficiency water heaters, one serving each apartment.

Some apartments offer views of the Boston skyline. Bus and train service are nearby, with connections to Route 16. The property is zoned R2.

Key Highlights

• Three apartments, each with 3 bedrooms and 1.5 baths
• Approximately 1,300 square feet per apartment; 3,973 square feet total
• Built in 2026; recent updates include roof, siding, insulation, windows, and front steps

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$75,690

Cap Rate

5.22%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,513,800 $1.5M

Cap Rate 7%

$1,081,286 $1.1M

Cap Rate 9%

$841,000 $841.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,973 SF

Gross rent

$114.4K $28.80/SF

− Vacancy

−$6.3K −$1.58/SF

EGI

$108.1K $27.22/SF

− OpEx

−$32.4K −$8.16/SF

NOI

$75.7K $19.05/SF

Area

Suffolk County, MA

Vacancy

5.50%

Lease Rate

$28.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,513,800

Cap Rate 7%

$1,081,286

Cap Rate 9%

$841,000

Alternative Uses

Best Use

Multifamily LT 5

$1.08M

$946.1K – $1.26M (±1% cap)

NOI $75,690 @ 7.0% cap · market cap 5.22%

Second Best

Apartment 5plus

$985.9K

$862.7K – $1.15M (±1% cap)

NOI $69,016 @ 7.0% cap · market cap 4.76%

Theoretical Best

Office A

$2.35M

$2.06M – $2.74M (±1% cap)

NOI $164,640 @ 7.0% cap · market cap 11.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Home Appliance Store Skin Care Clinic Veterinary Clinic (Bike/Boat/Book/etc) Store Pet Store Pet Store & Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Yes

Sprinkler system

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,616

Businesses Nearby

Explore this area Business Placement

Demographics for 02150, MA

40,721

Population

14,162

Households

2.9

Avg Household Size

34

Median Age

22%

College-Educated

69%

High-School Grad

2.2 sq mi

ZIP Area

18,510

Density / Sq Mi

$72,122

Median Household Income

$41,046

Median Earnings

$1,861

Median Rent

$476,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Three apartments feature in-unit laundry, updated building systems, and R2 zoning.

Where is this triplex located?

The property is located at 271 Washington Ave Chelsea, MA.

What is the asking price?

The asking price for this property is $1,449,900.

What are key features of this property?

This property features: Three apartments, each with 3 bedrooms and 1.5 baths; Approximately 1,300 square feet per apartment; 3,973 square feet total; Built in 2026; recent updates include roof, siding, insulation, windows, and front steps