Renovated Two-Family
For Sale
$1,369,000
62 Welles Ave, Boston, MA 02124
Updated interiors include private decks and garage parking.
Property Size2,800 SF
Price / SF$488.93
Days on Market199
Property Features for 62 Welles Ave
General Information
Standard status
Active
Size
2,800 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
R2
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Amenities
private deck
in-unit washer/dryer
Building Details
Building Size
2,800 SF
Year Built
1890
Stories
2
Listing Agency:
Berkshire Hathaway HomeServices Warren Residential
Listed By:
Gretchen Devine
(413) 205-9305
Source:
Cjbarrett
Added: Apr 2
Changed: Aug 29
Last Checked: May 28 at 5:47AM
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 Berkshire Hathaway HomeServices Warren Residential
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Investment Insights
Based on property information with market context.
This renovated duplex contains two residences, each with 3 bedrooms, 2 full baths, and an open kitchen-and-living arrangement. The 2,800-square-foot property features hardwood flooring, high ceilings, large windows, and contemporary finishes throughout. Each unit has a private deck, while the property provides two garage parking spaces plus additional driveway parking. Final work planned before closing includes in-unit washer and dryer appliances, stainless steel appliances, cabinet doors, and shower glass.
Constructed in 1890, the home is located on Welles Avenue in Boston’s Dorchester Center. Public transportation, major highways, shops, and restaurants are nearby. The configuration supports use as a two-unit residential property for an investor or an owner-occupant, as directly supported by the available property information.
Constructed in 1890, the home is located on Welles Avenue in Boston’s Dorchester Center. Public transportation, major highways, shops, and restaurants are nearby. The configuration supports use as a two-unit residential property for an investor or an owner-occupant, as directly supported by the available property information.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 full baths per residence
- 2,800 SF property with renovated interiors and modern finishes
- Private deck provided for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,754
Cap Rate
5.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,415,080
$1.4M
Cap Rate 7%
$1,010,771
$1.0M
Cap Rate 9%
$786,156
$786.2K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$105.8K $37.80/SF
− Vacancy
−$4.8K −$1.70/SF
EGI
$101.1K $36.10/SF
− OpEx
−$30.3K −$10.83/SF
NOI
$70.8K $25.27/SF
Area
Boston, MA
Vacancy
4.50%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,415,080
Cap Rate 7%
$1,010,771
Cap Rate 9%
$786,156
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$884.4K – $1.18M
NOI $70,754 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$939.7K
$822.2K – $1.10M
NOI $65,778 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$2.10M
$1.83M – $2.45M
NOI $146,765 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,494
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Updated interiors include private decks and garage parking.
Where is this duplex located?
The property is located at 62 Welles Ave Boston, MA.
What is the asking price?
The asking price for this property is $1,369,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 full baths per residence; 2,800 SF property with renovated interiors and modern finishes; Private deck provided for each unit
