Four-Unit Quadplex with
For Sale
$1,295,000
60-62 Alder Street, Waltham, MA 02453
Hardwood floors, gas heat, laundry, and off-street parking support the existing residential configuration.
Property Size2,878 SF
Price / SF$449.97
Days on Market11
Property Features for 60-62 Alder Street
General Information
Standard status
Active
Size
2,878 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
4
Amenities
bright E-I-Ks
spacious living rooms
hardwood flooring
natural gas heating
in-unit laundry
Building Details
Year Built
1920
Listing Agency:
Coldwell Banker Realty - Waltham
Listed By:
Dave DiGregorio
(617) 846-8000
Source:
Highlandre
Added: Aug 22
Changed: Aug 31
Last Checked: Aug 30 at 5:41PM
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 - Waltham
Investment Insights
Based on property information with market context.
This four-unit residential property, built in 1920, includes eat-in kitchens, generous living rooms, hardwood flooring, natural gas heating, and laundry within each unit. Off-street parking is also provided, giving the building a practical configuration for multifamily occupancy.
The property is located at 60-62 Alder Street in Waltham, one block from Moody Street. Public transportation and shops are within walking distance, while Route 128, Route 2, and the Massachusetts Turnpike provide regional access.
The property is located at 60-62 Alder Street in Waltham, one block from Moody Street. Public transportation and shops are within walking distance, while Route 128, Route 2, and the Massachusetts Turnpike provide regional access.
Key Highlights
- Four‑unit multifamily property at 60‑62 Alder Street
- Built in 1920
- Eat‑in kitchens and spacious living rooms
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
$60,900
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
4.70%
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%
$1,218,000
$1.2M
Cap Rate 7%
$870,000
$870.0K
Cap Rate 9%
$676,667
$676.7K
Market Conditions
NOI Build-Up for 2,878 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
$91.5K $31.80/SF
− Vacancy
−$4.5K −$1.57/SF
EGI
$87.0K $30.23/SF
− OpEx
−$26.1K −$9.07/SF
NOI
$60.9K $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 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%
$1,218,000
Cap Rate 7%
$870,000
Cap Rate 9%
$676,667
Alternative Uses
Best Use
Multifamily LT 5
$870.0K
$761.3K – $1.02M
NOI $60,900 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$818.0K
$715.8K – $954.4K
NOI $57,262 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$1.70M
$1.49M – $1.99M
NOI $119,264 @ 7.0% cap · market cap 9.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,781
Businesses Nearby
Explore this area
Business Placement
Demographics for 02453, MA
31,854
Population
13,163
Households
2.4
Avg Household Size
34
Median Age
59%
College-Educated
92%
High-School Grad
3.6 sq mi
ZIP Area
8,848
Density / Sq Mi
$114,029
Median Household Income
$58,036
Median Earnings
$2,063
Median Rent
$666,300
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?
Quadplex - Hardwood floors, gas heat, laundry, and off-street parking support the existing residential configuration.
Where is this quadplex located?
The property is located at 60-62 Alder Street Waltham, MA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Four‑unit multifamily property at 60‑62 Alder Street; Built in 1920; Eat‑in kitchens and spacious living rooms
