Triplex with Updated
For Sale
$975,000
68 Cook Ave, Chelsea, MA 02150
Three occupied residences feature bonus areas, modern kitchens, and a private yard in a low-maintenance exterior package.
Property Size2,271 SF
Price / SF$429.33
Days on Market89
Property Features for 68 Cook Ave
General Information
Standard status
Active
Size
2,271 SF
Property subtype
Multi-Family
Zoning
R1
Occupancy
100%
Net Operating Income
$64,800
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,244
Amenities
private yard
Building Details
Building Size
2,271 SF
Year Built
1925
Buildings
1
Stories
3
Listing Agency:
The Collaborative Companies
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 3
Changed: Aug 30
Last Checked: Aug 30 at 3:59AM
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 The Collaborative Companies
Investment Insights
Based on property information with market context.
This 1925 triplex contains three residential units totaling 2,271 square feet. All units are occupied under tenancy-at-will arrangements. Units 2 and 3 include bonus areas and updated kitchens, while the property also features a newer roof, newer heating systems, and newer hot water heaters. Low-maintenance siding, finished exterior stairs, and a private yard complete the improvements.
Located at 68 Cook Ave in Chelsea, the property is 2.5 miles from Boston and Logan Airport. Route 1 access and public transportation into Boston provide established regional connectivity while the home remains in a residential setting. The R1-zoned property may suit an investor or an owner-occupant seeking a three-unit configuration.
Located at 68 Cook Ave in Chelsea, the property is 2.5 miles from Boston and Logan Airport. Route 1 access and public transportation into Boston provide established regional connectivity while the home remains in a residential setting. The R1-zoned property may suit an investor or an owner-occupant seeking a three-unit configuration.
Key Highlights
- Three‑family triplex with 2,271 square feet, built in 1925
- All three units occupied under TAW arrangements
- Units 2 and 3 include bonus spaces and modern kitchens
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
$43,265
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
4.44%
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%
$865,300
$865.3K
Cap Rate 7%
$618,071
$618.1K
Cap Rate 9%
$480,722
$480.7K
Market Conditions
NOI Build-Up for 2,271 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
$65.4K $28.80/SF
− Vacancy
−$3.6K −$1.58/SF
EGI
$61.8K $27.22/SF
− OpEx
−$18.5K −$8.16/SF
NOI
$43.3K $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 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%
$865,300
Cap Rate 7%
$618,071
Cap Rate 9%
$480,722
Alternative Uses
Best Use
Multifamily LT 5
$618.1K
$540.8K – $721.1K
NOI $43,265 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$563.6K
$493.1K – $657.5K
NOI $39,450 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$1.34M
$1.18M – $1.57M
NOI $94,110 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
805
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three occupied residences feature bonus areas, modern kitchens, and a private yard in a low-maintenance exterior package.
Where is this triplex located?
The property is located at 68 Cook Ave Chelsea, MA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Three‑family triplex with 2,271 square feet, built in 1925; All three units occupied under TAW arrangements; Units 2 and 3 include bonus spaces and modern kitchens
