3-Unit Residential Income
60 Madison Street Malden, MA 02148
For Sale
$994,000
Three residential units with separate kitchens and laundry options, plus driveway parking and a rear patio.
Property Size2,247 SF
Price / SF$442.37
Days on Market81
Property Features for 60 Madison Street
General Information
- Standard status
- Active
- Size
- 2,247 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing Agency:
AC Realty
Listed By:
Anna Mean
(617) 262-6200
Source:
Cabotandcompany
Added: May 4
Changed: Jul 21
Last Checked: Jul 22 at 7:12AM
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 AC Realty
Investment Insights
Based on property information with market context.
This 3-family residential income property offers three separate units with eat-in kitchens and dedicated laundry setups. The first-floor unit includes an eat-in kitchen with updated cabinets and laundry hookups, with vinyl and laminate flooring throughout. The second-floor unit features an eat-in kitchen, generous living space, and in-unit washer and dryer. The third-floor unit includes an updated kitchen and hardwood flooring, along with private basement laundry. Additional features include a large rear patio, driveway parking for two cars, and a semi-finished basement with an additional bathroom.
The property is located near Malden Center and is approximately 0.6 miles from the Malden T, with nearby shopping and dining.
Recent improvements include updated heating systems for all units, a newer roof, and enhanced front-of-the-house masonry and side steps. The first-floor unit is currently vacant.
The property is located near Malden Center and is approximately 0.6 miles from the Malden T, with nearby shopping and dining.
Recent improvements include updated heating systems for all units, a newer roof, and enhanced front-of-the-house masonry and side steps. The first-floor unit is currently vacant.
Key Highlights
- 3‑family property near Malden Center with easy access to public transportation—0.6 miles to the Malden T
- First‑floor unit includes an eat‑in kitchen with updated cabinets and laundry hookups; 1st FL is vacant
- Second‑floor unit has an eat‑in kitchen, in‑unit washer and dryer, and generous living space
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 | $71.5k | $31.80 |
| − Vacancy | −$3.5k | −$1.57 |
| EGI | $67.9k | $30.23 |
| − OpEx | −$20.4k | −$9.07 |
| NOI | $47.5k | $21.16 |
2,247 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$679.2K
$594.3K – $792.5K
NOI $47,547 @ 7.0% cap · market cap 4.78%
Second Best
Apartment 5plus
$638.7K
$558.9K – $745.1K
NOI $44,708 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,115 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Dr. Jayceon M. ...
Physician
FAQs
What type of property is this?
Triplex - Three residential units with separate kitchens and laundry options, plus driveway parking and a rear patio.
Where is this triplex located?
The property is located at 60 Madison Street Malden, MA.
What is the asking price?
The asking price for this property is $994,000.
What are key features of this property?
This property features: 3‑family property near Malden Center with easy access to public transportation—0.6 miles to the Malden T; First‑floor unit includes an eat‑in kitchen with updated cabinets and laundry hookups; 1st FL is vacant; Second‑floor unit has an eat‑in kitchen, in‑unit washer and dryer, and generous living space
