South-Facing Three-Family
512 East 3rd Street Boston, MA 02127
512 East 3rd Street, Boston, MA, 02127
$1,699,000
For Sale
$1,699,000
Three-family home with individual decks and outdoor space, with tenants paying utilities and no reported vacancies.
Property Size2,717 SF
Price / SF$625.32
Days on Market37
Property Features for 512 East 3rd Street
General Information
- Standard status
- Active
- Size
- 2,717 SF
- Property subtype
- 3 Family - 3 Units Up/Down
Building Details
- Year Built
- 1890
Listing agency
Gibson Sotheby's International Realty
(617) 872-3227
Listed by
Frank Celeste · License #449518275
Source
Bethdickerson
Added: Jun 15 Updated: Jul 21 at 10:51AM Checked: Jul 21 at 10:51AM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
This south-facing three-family residence features individual decks and outdoor space. The property currently includes over 2,700 square feet of living space, with the possibility of expanding into the backyard. Each apartment offers desirable floor plans, and the seller reports there has never been a vacancy. Tenants pay utilities, supporting a straightforward long-term rental setup.
Located in South Boston at 512 East 3rd Street, the home is described as minutes from area amenities, including the beach, bus routes, restaurants, and the Seaport.
For buyers considering owner-occupancy or investment strategies, the property is presented as a strong candidate for a 1031 exchange, a condominium conversion, or continued rental income. Showings are available by appointment only.
Located in South Boston at 512 East 3rd Street, the home is described as minutes from area amenities, including the beach, bus routes, restaurants, and the Seaport.
For buyers considering owner-occupancy or investment strategies, the property is presented as a strong candidate for a 1031 exchange, a condominium conversion, or continued rental income. Showings are available by appointment only.
Key Highlights
- South‑facing Eastside three‑family home built in 1890 with individual decks and outdoor space
- Over 2,700 sq ft of living space with potential to expand into the backyard
- 2,350 sq ft lot offers additional outdoor and expansion possibilities
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 | $102.7k | $37.80 |
| − Vacancy | −$4.6k | −$1.70 |
| EGI | $98.1k | $36.10 |
| − OpEx | −$29.4k | −$10.83 |
| NOI | $68.7k | $25.27 |
2,717 SF · lease $37.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$980.8K
$858.2K – $1.14M
NOI $68,657 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$911.8K
$797.9K – $1.06M
NOI $63,828 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,414 @ 7.0% cap · market cap 8.38%
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-family home with individual decks and outdoor space, with tenants paying utilities and no reported vacancies.
Where is this triplex located?
The property is located at 512 East 3rd Street Boston, MA.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: South‑facing Eastside three‑family home built in 1890 with individual decks and outdoor space; Over 2,700 sq ft of living space with potential to expand into the backyard; 2,350 sq ft lot offers additional outdoor and expansion possibilities
