Three-Family Residential Income
For Sale
$1,075,000
46 Richardson St, Wakefield, MA 01880
Well-maintained three-family with driveway and garage parking, shared laundry, and a large backyard.
Property Size2,640 SF
Price / SF$407.20
Days on Market187
Property Features for 46 Richardson St
General Information
Standard status
Active
Size
2,640 SF
Total Parking Spaces
10
Property subtype
Multi-Family
Zoning
GR
Amenities
Gas Dryer Hookup, Washer Hookup
Wood, Tile, Vinyl, Carpet, Varies
Range, Dishwasher, Refrigerator
Living Room, Dining Room, Kitchen
Yes
Shingle
2.0
Varies per Unit
Public Transportation, Medical Facility, Highway Access, House of Worship, Public School
for Gas Range, for Electric Range, for Gas Dryer, Washer Hookup
10
Building Details
Building Size
2,640 SF
Year Built
1910
Stories
3
Listing Agency:
All County Select Property Management
Listed By:
Devin Caglayan
(617) 820-8471
Source:
Reishomesearch
Added: Apr 17
Changed: Sep 9
Last Checked: Sep 5 at 6:07AM
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 All County Select Property Management
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Investment Insights
Based on property information with market context.
This well-maintained three-family residential income property offers three separate units with a spacious first-floor layout. The first-floor unit includes three bedrooms, a newer kitchen, refinished hardwood floors, and a front porch. The interior also features laminate flooring in the living room and kitchen, with a freshly painted interior. The kitchen is equipped with a gas range, dishwasher, and refrigerator, and shared laundry is available.
Parking is provided via a driveway and garage, with ample storage and a large backyard. The property is located on a quiet, tree-lined street in Wakefield and is within walking distance to the commuter rail, with access to downtown Boston in under 30 minutes, along with proximity to the town center, Crystal Lake, and Lake Quannapowitt.
Parking is provided via a driveway and garage, with ample storage and a large backyard. The property is located on a quiet, tree-lined street in Wakefield and is within walking distance to the commuter rail, with access to downtown Boston in under 30 minutes, along with proximity to the town center, Crystal Lake, and Lake Quannapowitt.
Key Highlights
- Three‑family property built in 1910 in Wakefield
- Driveway and garage parking plus a large backyard
- First‑floor unit features 3 bedrooms, newer kitchen, and refinished hardwood floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,863
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,117,260
$1.1M
Cap Rate 7%
$798,043
$798.0K
Cap Rate 9%
$620,700
$620.7K
Market Conditions
NOI Build-Up for 2,640 SF
Gross rent
$84.0K $31.80/SF
− Vacancy
−$4.1K −$1.57/SF
EGI
$79.8K $30.23/SF
− OpEx
−$23.9K −$9.07/SF
NOI
$55.9K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,117,260
Cap Rate 7%
$798,043
Cap Rate 9%
$620,700
Alternative Uses
Best Use
Multifamily LT 5
$798.0K
$698.3K – $931.1K
NOI $55,863 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$750.4K
$656.6K – $875.5K
NOI $52,527 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,401 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,400
Businesses Nearby
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Business Placement
Demographics for 01880, MA
27,071
Population
11,513
Households
2.4
Avg Household Size
43
Median Age
57%
College-Educated
96%
High-School Grad
7.4 sq mi
ZIP Area
3,658
Density / Sq Mi
$130,419
Median Household Income
$78,860
Median Earnings
$1,872
Median Rent
$670,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained three-family with driveway and garage parking, shared laundry, and a large backyard.
Where is this triplex located?
The property is located at 46 Richardson St Wakefield, MA.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Three‑family property built in 1910 in Wakefield; Driveway and garage parking plus a large backyard; First‑floor unit features 3 bedrooms, newer kitchen, and refinished hardwood floors
