Two-Unit Multifamily
56-58 California Street Watertown, MA 02472
56-58 California Street, Watertown, MA, 02472
$1,075,000
Pending
For Sale
$1,075,000
Pending
Two-unit multifamily home with separate two- and three-bedroom layouts, porches, fenced yard, and off-street parking.
Property Size2,392 SF
Days on Market83
Property Features for 56-58 California Street
General Information
- Standard status
- Pending
- Size
- 2,392 SF
- Property subtype
- Multi-family / 2 Family - 2 Units Up/Down
Building Details
- Year Built
- 1930
Listing agency
Coldwell Banker Realty - Belmont
(617) 484-5300
Listed by
Bob Airasian · License #9510330
(617) 484-5300
Source
Compass
Added: Apr 30 Updated: Jul 20 at 4:45PM Checked: Jul 21 at 6:28AM
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 Coldwell Banker Realty - Belmont
Investment Insights
Based on property information with market context.
This spacious two-unit multifamily residence offers two distinct living levels within one building. The first-floor unit includes two bedrooms, a full tiled bath, hardwood floors, and an updated kitchen with recessed lighting, along with covered front and back porches. The second-floor unit features two bedrooms plus an office, an enclosed porch with views of the Charles River, and a covered back porch.
Outside, the property includes a fenced-in backyard with a storage shed and brick patio. Two paved driveways provide off-street parking for multiple cars. Additional space includes a full unfinished basement with a half bath and ample storage, as well as a walk-up attic for further storage and potential development.
The home is described as being just outside Watertown Square, with express bus access and nearby restaurants, shops, and diners, and convenient routes to Cambridge, Boston, and major roadways.
Outside, the property includes a fenced-in backyard with a storage shed and brick patio. Two paved driveways provide off-street parking for multiple cars. Additional space includes a full unfinished basement with a half bath and ample storage, as well as a walk-up attic for further storage and potential development.
The home is described as being just outside Watertown Square, with express bus access and nearby restaurants, shops, and diners, and convenient routes to Cambridge, Boston, and major roadways.
Key Highlights
- Two‑unit multifamily home with 4 bedrooms and 2 full baths; separate two- and three‑bedroom layouts
- First‑floor unit includes hardwood floors, updated kitchen with recessed lighting, 2 bedrooms, and a full tiled bath
- Second‑floor unit has 2 bedrooms plus an office, with an enclosed porch featuring views of the Charles River
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 | $76.1k | $31.80 |
| − Vacancy | −$3.8k | −$1.57 |
| EGI | $72.3k | $30.23 |
| − OpEx | −$21.7k | −$9.07 |
| NOI | $50.6k | $21.16 |
2,392 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$723.1K
$632.7K – $843.6K
NOI $50,616 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$679.9K
$594.9K – $793.2K
NOI $47,593 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,124 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-unit multifamily home with separate two- and three-bedroom layouts, porches, fenced yard, and off-street parking.
Where is this duplex located?
The property is located at 56-58 California Street Watertown, 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: Two‑unit multifamily home with 4 bedrooms and 2 full baths; separate two- and three‑bedroom layouts; First‑floor unit includes hardwood floors, updated kitchen with recessed lighting, 2 bedrooms, and a full tiled bath; Second‑floor unit has 2 bedrooms plus an office, with an enclosed porch featuring views of the Charles River
