Turnkey Quadplex with Updated
28 Chelsea Street Boston, MA 02128
For Sale
$2,000,000
Turnkey, fully rented quadplex with four renovated units, separated utilities, and coin-op laundry on the first floor.
Property Size4,533 SF
Price / SF$441.21
Days on Market101
Property Features for 28 Chelsea Street
General Information
- Standard status
- Active
- Size
- 4,533 SF
- Property subtype
- Multi-family / 4 Family - 4 Units Up/Down
Building Details
- Year Built
- 1910
Listing Agency:
Vanderbilt Properties, LLC
(508) 366-6848
Listed By:
Matthew Heisler · License #9534834
(508) 366-6848
Source:
Compass
Added: Apr 14
Changed: Jul 23
Last Checked: Jul 23 at 5:16AM
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 Vanderbilt Properties, LLC
Investment Insights
Based on property information with market context.
This turnkey quadplex offers four income-producing units, fully renovated with modern updates and designed for low maintenance. Three residential units feature updated kitchens, tile surround showers, updated windows, modern appliances, and refreshed interior finishes, including modern doors and upgraded trim styles. Recent heat and A/C upgrades support comfortable year-round living. Additional building improvements include a rubber roof less than 10 years old, repointing, and a rebuilt rear deck exit. A coin-operated, first-floor laundry room is accessible to all tenants, and the building is equipped with a CCTV security system capable of streaming to a phone.
The property is located just two blocks from the Maverick T-stop in East Boston, providing convenient transit access. The building is fully rented, and all utilities are separated.
Overall, the quadplex combines renovated interiors with continued exterior and mechanical updates, creating a straightforward, well-maintained income property.
The property is located just two blocks from the Maverick T-stop in East Boston, providing convenient transit access. The building is fully rented, and all utilities are separated.
Overall, the quadplex combines renovated interiors with continued exterior and mechanical updates, creating a straightforward, well-maintained income property.
Key Highlights
- Quadplex with 4 units; property is fully rented
- Three residential units with updated kitchens and tile surround showers; modern appliances included
- Recent heat and A/C upgrades for all units
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 | $171.3k | $37.80 |
| − Vacancy | −$7.7k | −$1.70 |
| EGI | $163.6k | $36.10 |
| − OpEx | −$49.1k | −$10.83 |
| NOI | $114.5k | $25.27 |
4,533 SF · lease $37.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.64M
$1.43M – $1.91M
NOI $114,546 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$1.52M
$1.33M – $1.77M
NOI $106,489 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$3.39M
$2.97M – $3.96M
NOI $237,602 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
La Esquina De ...
Clothing Store
Tobacco Exchange
(Bike/Boat/Book/etc) Store
FAQs
What type of property is this?
Quadplex - Turnkey, fully rented quadplex with four renovated units, separated utilities, and coin-op laundry on the first floor.
Where is this quadplex located?
The property is located at 28 Chelsea Street Boston, MA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Quadplex with 4 units; property is fully rented; Three residential units with updated kitchens and tile surround showers; modern appliances included; Recent heat and A/C upgrades for all units
