Triplex with Three-Car
For Sale
$1,000,000
Pending
298 Woburn St, Reading, MA 01867
Three-family residential property with a level half-acre lot and access to commuter rail, bus service, and major highways.
Property Size3,358 SF
Lot Size0.50 Acres
Days on Market171
Property Features for 298 Woburn St
General Information
Standard status
Pending
Size
3,358 SF
Total Parking Spaces
16
Lot size
0.50 Acres
Property subtype
Multi-Family
Zoning
S15
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Building Details
Building Size
3,358 SF
Year Built
1920
Buildings
1
Stories
3
Listing Agency:
William Raveis R.E. & Home Services
Listed By:
Vantage Point Team
(781) 861-9600
Source:
Cjbarrett
Added: Apr 28
Changed: Aug 29
Last Checked: May 28 at 5:47AM
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 William Raveis R.E. & Home Services
Investment Insights
Based on property information with market context.
This three-family property contains 3,358 square feet of living area within a residence constructed in 1920. The layout includes four bedrooms and three full bathrooms, with hardwood, tile, vinyl, carpet, and wood flooring across the interior. Kitchen appliances include a range, dishwasher, microwave, refrigerator, washer, and dryer. Heating is provided by forced air with oil, hot water, natural gas, and baseboard components. A three-car garage adds covered vehicle and storage capacity, while the level half-acre lot provides the surrounding land area. The property is zoned S15.
Commuter access is supported by proximity to a commuter train and MBTA bus service, each located one-half mile away. The property also offers access to I-93 and I-95, along with nearby shopping, public transportation, a T-Station, sidewalks, a house of worship, and a public school.
Commuter access is supported by proximity to a commuter train and MBTA bus service, each located one-half mile away. The property also offers access to I-93 and I-95, along with nearby shopping, public transportation, a T-Station, sidewalks, a house of worship, and a public school.
Key Highlights
- Three‑family property with 3,358 square feet of living area
- Four bedrooms and three full bathrooms
- Three‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,056
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,421,120
$1.4M
Cap Rate 7%
$1,015,086
$1.0M
Cap Rate 9%
$789,511
$789.5K
Market Conditions
NOI Build-Up for 3,358 SF
Gross rent
$106.8K $31.80/SF
− Vacancy
−$5.3K −$1.57/SF
EGI
$101.5K $30.23/SF
− OpEx
−$30.5K −$9.07/SF
NOI
$71.1K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,421,120
Cap Rate 7%
$1,015,086
Cap Rate 9%
$789,511
Alternative Uses
Best Use
Multifamily LT 5
$1.02M
$888.2K – $1.18M
NOI $71,056 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$954.5K
$835.2K – $1.11M
NOI $66,813 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,155 @ 7.0% cap · market cap 13.92%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
175
Businesses Nearby
Explore this area
Business Placement
Demographics for 01867, MA
25,522
Population
9,895
Households
2.6
Avg Household Size
43
Median Age
65%
College-Educated
96%
High-School Grad
10.0 sq mi
ZIP Area
2,552
Density / Sq Mi
$163,407
Median Household Income
$85,600
Median Earnings
$1,722
Median Rent
$741,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family residential property with a level half-acre lot and access to commuter rail, bus service, and major highways.
Where is this triplex located?
The property is located at 298 Woburn St Reading, MA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Three‑family property with 3,358 square feet of living area; Four bedrooms and three full bathrooms; Three‑car garage
