Gut-Renovated Five-Unit
For Sale
$2,750,000
533 Washington St, Boston, MA 02124
Renovated Victorian multifamily with five units, new sprinkler and fire alarm systems, and a newly installed five-car driveway.
Property Size6,000 SF
Price / SF$458.33
Days on Market99
Property Features for 533 Washington St
General Information
Standard status
Active
Size
6,000 SF
Class
Trophy asset
Total Parking Spaces
5
Property subtype
Multi-Family
Site & Location
Neighborhood
Mattapan
Additional Details
Sprinkler System
Yes
Multifamily Units
5
Amenities
brand new sprinkler system
fire alarm system
newly completed landscaping
newly installed five-car driveway
Building Details
Year Built
2026
Construction
Victorian
Listing Agency:
Choose Boston, LLC
Listed By:
Zachary Feldshuh · License #449597954
(607) 342-5872
Source:
Amyliptonrealestate
Added: Jul 24
Changed: Oct 26
Last Checked: Oct 28 at 11:01AM
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 Choose Boston, LLC
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Investment Insights
Based on property information with market context.
533 Washington Street presents a gut-renovated Victorian now configured as a five-unit multifamily property. The building has been updated throughout into condo-quality condition, with brand-new sprinkler and fire alarm systems installed for added life-safety coverage.
Outside, newly completed landscaping supports the property’s curb presence, and a newly installed five-car driveway adds an on-site parking convenience that is not typical for the area. The property is located in Dorchester, moments from Codman Square and historic Melville Avenue, with the Shawmut Red Line MBTA approximately 0.4 miles away.
For buyers seeking a modernized income property in a walkable, transit-accessible Dorchester setting, this five-unit building offers a turn-key, fully renovated configuration with updated fire protection and exterior improvements.
Outside, newly completed landscaping supports the property’s curb presence, and a newly installed five-car driveway adds an on-site parking convenience that is not typical for the area. The property is located in Dorchester, moments from Codman Square and historic Melville Avenue, with the Shawmut Red Line MBTA approximately 0.4 miles away.
For buyers seeking a modernized income property in a walkable, transit-accessible Dorchester setting, this five-unit building offers a turn-key, fully renovated configuration with updated fire protection and exterior improvements.
Key Highlights
- Completely gut‑renovated Victorian multifamily built in 2026, converted into 5 units
- Brand‑new sprinkler and fire alarm systems
- Newly installed five‑car driveway for tenant convenience and potential for added parking income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$140,952
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,819,040
$2.8M
Cap Rate 7%
$2,013,600
$2.0M
Cap Rate 9%
$1,566,133
$1.6M
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$266.4K $44.40/SF
− Vacancy
−$10.1K −$1.69/SF
EGI
$256.3K $42.71/SF
− OpEx
−$115.3K −$19.22/SF
NOI
$141.0K $23.49/SF
Area
Boston, MA
Vacancy
3.80%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,819,040
Cap Rate 7%
$2,013,600
Cap Rate 9%
$1,566,133
Alternative Uses
Best Use
Apartment 5plus
$2.01M
$1.76M – $2.35M
NOI $140,952 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.49M
$3.93M – $5.24M
NOI $314,496 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
5
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,919
Businesses Nearby
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Business Placement
Demographics for 02124, MA
50,972
Population
21,264
Households
2.4
Avg Household Size
36
Median Age
31%
College-Educated
85%
High-School Grad
3.0 sq mi
ZIP Area
16,991
Density / Sq Mi
$79,168
Median Household Income
$43,483
Median Earnings
$1,783
Median Rent
$607,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated Victorian multifamily with five units, new sprinkler and fire alarm systems, and a newly installed five-car driveway.
Where is this apartment building located?
The property is located at 533 Washington St Boston, MA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Completely gut‑renovated Victorian multifamily built in 2026, converted into 5 units; Brand‑new sprinkler and fire alarm systems; Newly installed five‑car driveway for tenant convenience and potential for added parking income
