Triplex with Off-Street
296 Washington Ave, Chelsea, MA 02150
For Sale
New
$1,299,000
Vacant and legally configured for three households, the property suits an owner-occupant or investor.
Property Size3,360 SF
Days on Market2
Property Features for 296 Washington Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Highway Access
Public Transit
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Colarusso Realty
Listed By:
Alexander Colarusso
(617) 960-7731
Source:
Classifiedrealtygroup
Added: Nov 6
Last Checked: Nov 6 at 2:43PM
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 Colarusso Realty
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Investment Insights
Based on property information with market context.
This vacant triplex was built in 1980 and is legally configured as a three-family property. Generous ceiling heights and off-street parking are among its existing features. Future expansion may be possible, subject to required approvals and permits.
Route 16 is nearby, with connections to major highways, public transportation, shopping, and area amenities.
Route 16 is nearby, with connections to major highways, public transportation, shopping, and area amenities.
Key Highlights
- Vacant, legal three‑family property
- Built in 1980
- Generous ceiling heights and off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,012
Cap Rate
4.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,280,240
$1.3M
Cap Rate 7%
$914,457
$914.5K
Cap Rate 9%
$711,244
$711.2K
Market Conditions
NOI Build-Up for 3,360 SF
Gross rent
$96.8K $28.80/SF
− Vacancy
−$5.3K −$1.58/SF
EGI
$91.4K $27.22/SF
− OpEx
−$27.4K −$8.16/SF
NOI
$64.0K $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%
$1,280,240
Cap Rate 7%
$914,457
Cap Rate 9%
$711,244
Alternative Uses
Best Use
Multifamily LT 5
$914.5K
$800.2K – $1.07M
NOI $64,012 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$833.8K
$729.6K – $972.8K
NOI $58,367 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,238 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
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
$476,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Suffolk County, MA
Properties on Market for Triplexes in Suffolk County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Vacant and legally configured for three households, the property suits an owner-occupant or investor.
Where is this triplex located?
The property is located at 296 Washington Ave Chelsea, MA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Vacant, legal three‑family property; Built in 1980; Generous ceiling heights and off‑street parking
