Three-Story Multi-Family
For Sale
$675,000
48 Sea St, Weymouth, MA 02191
Three-story residential income property with five private bedrooms and three full bathrooms across two upper levels.
Property Size2,725 SF
Price / SF$247.71
Days on Market51
Property Features for 48 Sea St
General Information
Standard status
Active
Size
2,725 SF
Property subtype
Investment
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$4,192
Building Details
Building Size
2,725 SF
Year Built
1900
Stories
3
Units
3
Listing Agency:
Keller Williams Realty
(781) 929-6342
Listed By:
Dennis MacDonald
(781) 929-6342
Source:
Elliman
Added: Jul 1
Changed: Aug 17
Last Checked: Aug 19 at 9:22AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This three-story multi-family building contains approximately 2,725± square feet of living space. The property includes five private bedrooms and three full bathrooms. The second and third floors are described as having individual bedrooms alongside shared kitchens and bathrooms, creating a flexible interior configuration for a range of residential and potential alternative uses, subject to local approvals.
The building is located on a 3,273 square foot lot at 48 Sea St in Weymouth, Massachusetts. Public remarks indicate proximity to beaches, marinas, restaurants, and commuter routes, reflecting a waterfront-focused setting. The property is also offered for sale together with the abutting property at 52 Sea St.
The existing shared kitchen and bath arrangement on the upper floors may appeal to buyers seeking a residential income layout while retaining the option to renovate or reconfigure in line with applicable approvals. Owner-occupants or developers may also view the property as a candidate for modernization, subject to local permitting, given the described flexibility of the current floor plan.
The building is located on a 3,273 square foot lot at 48 Sea St in Weymouth, Massachusetts. Public remarks indicate proximity to beaches, marinas, restaurants, and commuter routes, reflecting a waterfront-focused setting. The property is also offered for sale together with the abutting property at 52 Sea St.
The existing shared kitchen and bath arrangement on the upper floors may appeal to buyers seeking a residential income layout while retaining the option to renovate or reconfigure in line with applicable approvals. Owner-occupants or developers may also view the property as a candidate for modernization, subject to local permitting, given the described flexibility of the current floor plan.
Key Highlights
- Three‑story residential income property with 2,725± SF of living space
- 5 private bedrooms and 3 full bathrooms across the second and third floors
- Most recently operated as a residential shelter with individual bedrooms plus shared kitchens and bathrooms
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
$45,039
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
6.67%
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%
$900,780
$900.8K
Cap Rate 7%
$643,414
$643.4K
Cap Rate 9%
$500,433
$500.4K
Market Conditions
NOI Build-Up for 2,725 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
$86.7K $31.80/SF
− Vacancy
−$4.8K −$1.75/SF
EGI
$81.9K $30.05/SF
− OpEx
−$36.9K −$13.52/SF
NOI
$45.0K $16.53/SF
Area
Norfolk County, MA
Vacancy
5.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
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%
$900,780
Cap Rate 7%
$643,414
Cap Rate 9%
$500,433
Alternative Uses
Best Use
Apartment 5plus
$643.4K
$563.0K – $750.7K
NOI $45,039 @ 7.0% cap · market cap 6.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,923 @ 7.0% cap · market cap 16.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
Explore this area
Business Placement
Demographics for 02191, MA
8,271
Population
3,704
Households
2.2
Avg Household Size
48
Median Age
43%
College-Educated
95%
High-School Grad
1.8 sq mi
ZIP Area
4,595
Density / Sq Mi
$116,496
Median Household Income
$67,043
Median Earnings
$1,833
Median Rent
$492,200
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?
Multifamily property - Three-story residential income property with five private bedrooms and three full bathrooms across two upper levels.
Where is this multifamily property located?
The property is located at 48 Sea St Weymouth, MA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Three‑story residential income property with 2,725± SF of living space; 5 private bedrooms and 3 full bathrooms across the second and third floors; Most recently operated as a residential shelter with individual bedrooms plus shared kitchens and bathrooms
