Turnkey Three-Family
For Sale
$1,300,000
3150 Washington St, Boston, MA 02130
Brick three-family with two 3-bedroom units and one 2-bedroom unit, each with 1.5 baths.
Property Size3,436 SF
Price / SF$378.35
Days on Market199
Property Features for 3150 Washington St
General Information
Standard status
Active
Size
3,436 SF
Property subtype
Multi-Family
Zoning
R3
Net Operating Income
$76,200
Additional Details
Business Included
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$13,789
Building Details
Building Size
3,436 SF
Year Built
1910
Stories
3
Tenancy
Multi
Listing Agency:
Herion Karbunara
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Feb 18
Changed: Sep 4
Last Checked: Sep 5 at 4:31AM
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 Herion Karbunara
Investment Insights
Based on property information with market context.
This turnkey brick three-family offers a strong unit mix: two expansive 3-bedroom units and one spacious 2-bedroom unit. Each unit is described as having 1.5 baths, LVP flooring, and stainless steel appliances, with oversized floor plans throughout. A basement provides common-area washer and dryer hookups, along with generous private storage areas for tenant convenience.
The property is located in Jamaica Plain and described as being near downtown Boston, major universities, shops, restaurants, parks, and public transportation, supporting ongoing rental demand.
One 3-bedroom unit is currently vacant, creating an immediate opportunity for occupancy. The asset is presented as well-maintained and built for durable, sustained performance.
The property is located in Jamaica Plain and described as being near downtown Boston, major universities, shops, restaurants, parks, and public transportation, supporting ongoing rental demand.
One 3-bedroom unit is currently vacant, creating an immediate opportunity for occupancy. The asset is presented as well-maintained and built for durable, sustained performance.
Key Highlights
- Brick three‑family built in 1910 with two 3‑bedroom units and one 2‑bedroom unit
- Each unit includes 1.5 baths and a living room/dining room combo layout
- Kitchen updates include upgraded cabinets and upgraded countertops; appliances include range, dishwasher, microwave, refrigerator, and disposal
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$86,825
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,736,500
$1.7M
Cap Rate 7%
$1,240,357
$1.2M
Cap Rate 9%
$964,722
$964.7K
Market Conditions
NOI Build-Up for 3,436 SF
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.
Gross rent
$129.9K $37.80/SF
− Vacancy
−$5.8K −$1.70/SF
EGI
$124.0K $36.10/SF
− OpEx
−$37.2K −$10.83/SF
NOI
$86.8K $25.27/SF
Area
Boston, MA
Vacancy
4.50%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,736,500
Cap Rate 7%
$1,240,357
Cap Rate 9%
$964,722
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.09M – $1.45M
NOI $86,825 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.35M
NOI $80,719 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$2.57M
$2.25M – $3.00M
NOI $180,101 @ 7.0% cap · market cap 13.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,808
Businesses Nearby
Explore this area
Business Placement
Demographics for 02130, MA
38,284
Population
18,802
Households
2
Avg Household Size
36
Median Age
73%
College-Educated
94%
High-School Grad
3.5 sq mi
ZIP Area
10,938
Density / Sq Mi
$130,533
Median Household Income
$73,238
Median Earnings
$2,434
Median Rent
$763,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Brick three-family with two 3-bedroom units and one 2-bedroom unit, each with 1.5 baths.
Where is this triplex located?
The property is located at 3150 Washington St Boston, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Brick three‑family built in 1910 with two 3‑bedroom units and one 2‑bedroom unit; Each unit includes 1.5 baths and a living room/dining room combo layout; Kitchen updates include upgraded cabinets and upgraded countertops; appliances include range, dishwasher, microwave, refrigerator, and disposal
