Three-Unit Multifamily
For Sale
$1,050,000
45 Addison, Chelsea, MA 02150
Residential units feature updated kitchens and hardwood flooring throughout.
Property Size3,103 SF
Price / SF$338.38
Days on Market15
Property Features for 45 Addison
General Information
Standard status
Active
Size
3,103 SF
Total Parking Spaces
14
Property subtype
3 Family - 3 Units Up/Down
Units
Unit Mix
2 x 3BR, 1 x 2BR
Multifamily Units
3
Building Details
Year Built
1900
Listing Agency:
Erik Pali
Listed By:
Erik Pali
(617) 686-5196
Source:
Ninasoto
Added: Oct 17
Changed: Oct 30
Last Checked: Oct 30 at 1:49AM
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 Erik Pali
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Investment Insights
Based on property information with market context.
This 3,103-square-foot triplex, built in 1900, contains three apartments with a 3-3-2 bedroom mix. Updated kitchens and hardwood floors are among the interior features. The property occupies a double lot and provides off-street parking for up to 14 vehicles.
The basement may offer space for a fourth unit or studio, subject to verification of permits and feasibility. Existing tenants have remained for more than five years, with a history of timely rent payments. Local schools are within walking distance.
The basement may offer space for a fourth unit or studio, subject to verification of permits and feasibility. Existing tenants have remained for more than five years, with a history of timely rent payments. Local schools are within walking distance.
Key Highlights
- 3,103‑square‑foot triplex with three apartments
- Bedroom mix of 3‑3‑2 across the units
- Off‑street parking for up to 14 vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,116
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,182,320
$1.2M
Cap Rate 7%
$844,514
$844.5K
Cap Rate 9%
$656,844
$656.8K
Market Conditions
NOI Build-Up for 3,103 SF
Gross rent
$89.4K $28.80/SF
− Vacancy
−$4.9K −$1.58/SF
EGI
$84.5K $27.22/SF
− OpEx
−$25.3K −$8.16/SF
NOI
$59.1K $19.05/SF
Area
Suffolk County, MA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,182,320
Cap Rate 7%
$844,514
Cap Rate 9%
$656,844
Alternative Uses
Best Use
Multifamily LT 5
$844.5K
$739.0K – $985.3K
NOI $59,116 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$770.0K
$673.8K – $898.4K
NOI $53,903 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$1.84M
$1.61M – $2.14M
NOI $128,588 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,165
Businesses Nearby
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Business Placement
Demographics for 02150, MA
40,721
Population
14,162
Households
2.9
Avg Household Size
34
Median Age
22%
College-Educated
69%
High-School Grad
2.2 sq mi
ZIP Area
18,510
Density / Sq Mi
$72,122
Median Household Income
$41,046
Median Earnings
$1,861
Median Rent
$476,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Residential units feature updated kitchens and hardwood flooring throughout.
Where is this triplex located?
The property is located at 45 Addison Chelsea, MA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 3,103‑square‑foot triplex with three apartments; Bedroom mix of 3‑3‑2 across the units; Off‑street parking for up to 14 vehicles
