Three-Unit Multifamily
New
For Sale
$699,000
721 Broadway, Chelsea, MA 02150
All three units are vacant, and the building requires repairs and updates.
Property Size3,560 SF
Price / SF$196.35
Days on Market7
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Property Features for 721 Broadway
General Information
Standard status
Active
Size
3,560 SF
Property subtype
3 Family - 3 Units Up/Down
Property Condition
Severity
Repairs Needed
Evidence
in need of repairs and updates
Additional Details
Multifamily Units
3
Building Details
Year Built
1900
Listing Agency:
Juan Gallego
(617) 466-1205
Listed By:
Matthew Gallego
(617) 849-3183
Source:
Lockandkeyre
Added: Oct 9
Changed: Oct 15
Last Checked: Oct 14 at 11:55PM
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 Juan Gallego
Investment Insights
Based on property information with market context.
This three-unit multifamily property contains 3,560 square feet and was built in 1900. Each unit is vacant, and the building needs repairs and updates. The property is being sold in as-is condition, with no existing tenancies in place.
Key Highlights
- Three vacant units
- 3,560 SF building
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,841
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,236,820
$1.2M
Cap Rate 7%
$883,443
$883.4K
Cap Rate 9%
$687,122
$687.1K
Market Conditions
NOI Build-Up for 3,560 SF
Gross rent
$119.6K $33.60/SF
− Vacancy
−$7.2K −$2.02/SF
EGI
$112.4K $31.58/SF
− OpEx
−$50.6K −$14.21/SF
NOI
$61.8K $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%
$1,236,820
Cap Rate 7%
$883,443
Cap Rate 9%
$687,122
Alternative Uses
Best Use
Multifamily LT 5
$968.9K
$847.8K – $1.13M
NOI $67,822 @ 7.0% cap · market cap 9.70%
Second Best
Apartment 5plus
$883.4K
$773.0K – $1.03M
NOI $61,841 @ 7.0% cap · market cap 8.85%
Theoretical Best
Office A
$2.11M
$1.84M – $2.46M
NOI $147,525 @ 7.0% cap · market cap 21.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,037
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - All three units are vacant, and the building requires repairs and updates.
Where is this triplex located?
The property is located at 721 Broadway Chelsea, MA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Three vacant units; 3,560 SF building; Built in 1900
