Charlestown Waterfront Loft
33 Third Avenue Boston, MA 02129
33 Third Avenue, Boston, MA, 02129
$22,000,000
For Sale
$22,000,000
Renovated 47-unit apartment building in Charlestown's Navy Yard.
Property Size35,268 SF
Price / SF$623.79
Days on Market336
Property Features for 33 Third Avenue
General Information
- Standard status
- Active
- Size
- 35,268 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1900
Listing Agency
Cushman & Wakefield
Listed by
Christopher Sower
Source
Arborviewrealtyinc
Added: Aug 16, 2025 Checked: Jul 17 at 2:09 am
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 Cushman & Wakefield
Investment Insights
Based on property information with market context.
Navy Yard 33 is a 47-unit, loft-style apartment building located along Charlestown's waterfront in Boston, Massachusetts. Constructed in 1900 and renovated in 2008, the building retains many of its original features while incorporating modern updates. The property offers a mix of one- and two-bedroom floor plans, including junior one-bedroom apartments, one-bedroom flats, a one-bedroom duplex apartment, two-bedroom apartments, and two-bedroom duplex apartments. Specifically, the unit mix includes 18 junior one-bedroom apartments (38%), 13 one-bedroom flats (28%), 1 one-bedroom duplex apartment (2%), 6 two-bedroom apartments (13%), and 9 two-bedroom duplex apartments (19%). The building has been exceptionally well maintained, and offers potential for selective upgrades such as improved bathroom and kitchen lighting, smart thermostats, and modern fixtures. The property size is 35,268 square feet.
Key Highlights
- Waterfront location in Charlestown.
- Loft‑style apartments with a variety of one- and two‑bedroom floor plans.
- Masterfully renovated and modernized building.
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 | $1.57M | $44.40 |
| − Vacancy | −$59.5k | −$1.69 |
| EGI | $1.51M | $42.71 |
| − OpEx | −$677.9k | −$19.22 |
| NOI | $828.5k | $23.49 |
35,268 SF · lease $44.40/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$11.84M
$10.36M – $13.81M
NOI $828,517 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$26.41M
$23.11M – $30.81M
NOI $1,848,607 @ 7.0% cap · market cap 8.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Renovated 47-unit apartment building in Charlestown's Navy Yard.
Where is this apartment building located?
The property is located at 33 Third Avenue Boston, MA.
What is the asking price?
The asking price for this property is $22,000,000.
What are key features of this property?
This property features: Waterfront location in Charlestown.; Loft‑style apartments with a variety of one- and two‑bedroom floor plans.; Masterfully renovated and modernized building.
