Five-Unit Apartment
65 Woodlawn Avenue, Chelsea, MA 02150
For Sale
$1,650,000
Five condominium units are held within one HOA and can be operated collectively as an apartment property.
Property Size4,357 SF
Days on Market61
Property Features for 65 Woodlawn Avenue
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Mastrocola Management, Inc.
Listed By:
Frank Mastrocola
(781) 396-1010
Source:
Classifiedrealtygroup
Added: Sep 15
Changed: Nov 6
Last Checked: Nov 14 at 2:43AM
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 Mastrocola Management, Inc.
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Investment Insights
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Built in 1970, this apartment property comprises five condominium units within a five-unit HOA. Because the ownership includes all five units, the property can function as a single apartment operation, with the option for the HOA to be revoked by the seller before closing at the buyer’s request.
Three units have been substantially improved since original construction. Four units include large walk-in storage closets on the third level, and floor plans are available for review. The property has been professionally managed and maintained by Mastrocola Management for more than forty years.
Three units have been substantially improved since original construction. Four units include large walk-in storage closets on the third level, and floor plans are available for review. The property has been professionally managed and maintained by Mastrocola Management for more than forty years.
Key Highlights
- Five condominium units held within a five‑unit HOA
- All five units can be operated collectively as an apartment property
- Three of five units have been substantially improved since original construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$75,686
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,513,720
$1.5M
Cap Rate 7%
$1,081,229
$1.1M
Cap Rate 9%
$840,956
$841.0K
Market Conditions
NOI Build-Up for 4,357 SF
Gross rent
$146.4K $33.60/SF
− Vacancy
−$8.8K −$2.02/SF
EGI
$137.6K $31.58/SF
− OpEx
−$61.9K −$14.21/SF
NOI
$75.7K $17.37/SF
Area
Suffolk County, MA
Vacancy
6.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,513,720
Cap Rate 7%
$1,081,229
Cap Rate 9%
$840,956
Alternative Uses
Best Use
Apartment 5plus
$1.08M
$946.1K – $1.26M
NOI $75,686 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.58M
$2.26M – $3.01M
NOI $180,553 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
582
Businesses Nearby
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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
$476,500
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Suffolk County, MA
Properties on Market for Apartment buildings in Suffolk County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Five condominium units are held within one HOA and can be operated collectively as an apartment property.
Where is this apartment building located?
The property is located at 65 Woodlawn Avenue Chelsea, MA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Five condominium units held within a five‑unit HOA; All five units can be operated collectively as an apartment property; Three of five units have been substantially improved since original construction
