Three-Family Residential Income
3985 Washington Street Boston, MA 02131
3985 Washington Street, Boston, MA, 02131
$1,295,000
For Sale
$1,295,000
Three spacious apartments with hardwood floors, separate heating and electric, plus a newer rubber roof and off-street parking.
Property Size3,234 SF
Price / SF$400.43
Days on Market90
Property Features for 3985 Washington Street
General Information
- Standard status
- Active
- Size
- 3,234 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1905
Listing agency
Stuart St James,Inc.
Listed by
Darin Thompson
(781) 878-2478
Source
Trufantre
Added: Apr 25 Updated: Jul 20 at 8:45PM Checked: Jul 22 at 8:05AM
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 Stuart St James,Inc.
Investment Insights
Based on property information with market context.
This well-cared-for three-family property offers three spacious apartments with consistent layouts and hardwood floors. Each unit has separate heating and electric systems. A newer rubber roof is in place, and the high-ceiling basement provides additional storage and utility space.
The property includes an oversized private backyard and off-street parking, set on a sun-facing lot. Convenient access is available by foot, car, bike, or public transportation to Forest Hills, Roslindale Square, and the Longwood Medical Area, along with universities and Downtown Boston.
One apartment is expected to be delivered vacant, providing flexibility for either an owner-occupant scenario or a rental-focused approach. The building’s setup is designed for long-term usability as a durable Boston-area multifamily asset.
The property includes an oversized private backyard and off-street parking, set on a sun-facing lot. Convenient access is available by foot, car, bike, or public transportation to Forest Hills, Roslindale Square, and the Longwood Medical Area, along with universities and Downtown Boston.
One apartment is expected to be delivered vacant, providing flexibility for either an owner-occupant scenario or a rental-focused approach. The building’s setup is designed for long-term usability as a durable Boston-area multifamily asset.
Key Highlights
- 1905‑built 3‑family featuring three spacious apartments with consistent layouts and large rooms
- Hardwood floors throughout and separate heating and electric systems for the apartments
- Newer rubber roof and a high‑ceiling basement with additional storage and utility space
Local Financial Insights For Multifamily LT 5
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 | $122.2k | $37.80 |
| − Vacancy | −$5.5k | −$1.70 |
| EGI | $116.7k | $36.10 |
| − OpEx | −$35.0k | −$10.83 |
| NOI | $81.7k | $25.27 |
3,234 SF · lease $37.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.17M
$1.02M – $1.36M
NOI $81,721 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$1.09M
$949.7K – $1.27M
NOI $75,973 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$2.42M
$2.12M – $2.83M
NOI $169,513 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three spacious apartments with hardwood floors, separate heating and electric, plus a newer rubber roof and off-street parking.
Where is this triplex located?
The property is located at 3985 Washington Street Boston, MA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: 1905‑built 3‑family featuring three spacious apartments with consistent layouts and large rooms; Hardwood floors throughout and separate heating and electric systems for the apartments; Newer rubber roof and a high‑ceiling basement with additional storage and utility space
