Two-Unit Duplex with Updated
New
For Sale
$659,962
62 Chester Avenue, Chelsea, MA 02150
Separate electrical panels and plumbing serve the two residences, with fully deleaded interiors.
Property Size1,952 SF
Price / SF$338.10
Days on Market6
Property Features for 62 Chester Avenue
General Information
Standard status
Active
Size
1,952 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Listing Agency:
Christopher Charido, Charlesgate Realty Group Llc
Listed By:
Nancy Hurley
(781) 214-0902
Source:
Massneighborhoods
Added: Oct 24
Changed: Oct 28
Last Checked: Oct 28 at 7:43AM
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 Christopher Charido, Charlesgate Realty Group Llc
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Investment Insights
Based on property information with market context.
This 1,952-square-foot duplex contains two residences and was built in 1920. Updates to both units include tiled bathrooms, eat-in kitchens with granite countertops and stainless-steel appliances, and refreshed walls, ceilings, doors, and frames. The property is fully deleaded, and each unit has its own electrical panel. Electrical circuit breakers and plumbing have also been updated.
The separate panels and two-unit configuration are complemented by interior improvements across both residences.
The separate panels and two-unit configuration are complemented by interior improvements across both residences.
Key Highlights
- Two‑unit duplex with 1,952 square feet
- Built in 1920
- Both residences have updated tiled bathrooms and eat‑in kitchens
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,188
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$743,760
$743.8K
Cap Rate 7%
$531,257
$531.3K
Cap Rate 9%
$413,200
$413.2K
Market Conditions
NOI Build-Up for 1,952 SF
Gross rent
$56.2K $28.80/SF
− Vacancy
−$3.1K −$1.58/SF
EGI
$53.1K $27.22/SF
− OpEx
−$15.9K −$8.16/SF
NOI
$37.2K $19.05/SF
Area
Suffolk County, MA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$743,760
Cap Rate 7%
$531,257
Cap Rate 9%
$413,200
Alternative Uses
Best Use
Multifamily LT 5
$531.3K
$464.9K – $619.8K
NOI $37,188 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$484.4K
$423.9K – $565.2K
NOI $33,909 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,890 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,007
Businesses Nearby
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Business Placement
Demographics for 02150, MA
40,721
Population
14,162
Households
2.9
Avg Household Size
34
Median Age
22%
College-Educated
69%
High-School Grad
2.2 sq mi
ZIP Area
18,510
Density / Sq Mi
$72,122
Median Household Income
$41,046
Median Earnings
$1,861
Median Rent
$476,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate electrical panels and plumbing serve the two residences, with fully deleaded interiors.
Where is this duplex located?
The property is located at 62 Chester Avenue Chelsea, MA.
What is the asking price?
The asking price for this property is $659,962.
What are key features of this property?
This property features: Two‑unit duplex with 1,952 square feet; Built in 1920; Both residences have updated tiled bathrooms and eat‑in kitchens
