Fully Occupied 6-Unit Apartment
304 Shirley Street Winthrop, MA 02152
304 Shirley Street, Winthrop, MA, 02152
$1,650,000
For Sale
$1,650,000
Six well-maintained 1-bedroom units operate as a fully occupied multifamily property near the beach.
Property Size4,122 SF
Price / SF$400.29
Days on Market147
Property Features for 304 Shirley Street
General Information
- Standard status
- Active
- Size
- 4,122 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Reference Real Estate
Listed by
Reserve Team
(617) 396-3100
Source
Longwoodresidential
Added: Feb 24 Updated: Jul 21 at 3:44PM Checked: Jul 21 at 3:44PM
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 Reference Real Estate
Investment Insights
Based on property information with market context.
304 Shirley Street is a fully occupied six-unit apartment building featuring well-maintained 1-bedroom residences. The property is described as steps from the sand and positioned for year-round tenant convenience.
The building is located in Winthrop’s seaside neighborhood near local shops, restaurants, and public transportation.
Unit 2 has documented updates including new flooring, new paint, an updated kitchen, and new light fixtures.
The building is located in Winthrop’s seaside neighborhood near local shops, restaurants, and public transportation.
Unit 2 has documented updates including new flooring, new paint, an updated kitchen, and new light fixtures.
Key Highlights
- Fully occupied 6‑unit multifamily building with all units as 1‑bedroom rentals
- Year built 1900
- Unit 2 updates include new flooring, new paint, updated kitchen, and new light fixtures
Local Financial Insights For Apartment 5plus
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 | $138.5k | $33.60 |
| − Vacancy | −$8.3k | −$2.02 |
| EGI | $130.2k | $31.58 |
| − OpEx | −$58.6k | −$14.21 |
| NOI | $71.6k | $17.37 |
4,122 SF · lease $33.60/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$895.1K – $1.19M
NOI $71,604 @ 7.0% cap · market cap 4.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.44M
$2.14M – $2.85M
NOI $170,815 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Six well-maintained 1-bedroom units operate as a fully occupied multifamily property near the beach.
Where is this apartment building located?
The property is located at 304 Shirley Street Winthrop, MA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Fully occupied 6‑unit multifamily building with all units as 1‑bedroom rentals; Year built 1900; Unit 2 updates include new flooring, new paint, updated kitchen, and new light fixtures
