Five One-Bedroom Apartment
723 Washington St Newton, MA 02458
For Sale
$1,995,000
Five one-bedroom apartments with electric baseboard heat, individual thermostats, and coin-operated laundry in the basement.
Days on Market72
Property Features for 723 Washington St
General Information
Standard status
Active
Property subtype
5+ Family - 5+ Units Up/Down
Building Details
Year Built
1920
Listing Agency:
Kraft Fine Homes
(617) 527-7002
Listed By:
Cynthia Lanciloti
Source:
Bostonluxurysuburbs
Added: May 20
Changed: Jul 29
Last Checked: Jul 29 at 12:18PM
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 Kraft Fine Homes
Investment Insights
Based on property information with market context.
The first building at 723 Washington St. offers five one-bedroom apartments. Each unit has wall-to-wall carpet and electric baseboard heat with individual thermostats. Four of the five apartments pay their own utility bills, while the remaining unit’s utilities are paid by the owner. Hot water is supplied by the landlord, and there are two electric hot water tanks that are 3 years old. Coin-operated washing machine and dryer are located in the basement.
Also included is 721 Washington St., a 1,750 +/- sf storefront with BU2 zoning that allows for many uses. The building features three half bathrooms, including one handicap accessible. This building has gas heat and hot water, along with central air conditioning.
Both buildings sit directly across from the express bus to Downtown Boston and the commuter rail to Boston Landing, Fenway, Back Bay, and South Station. Public platforms to the commuter rail have been approved for reconstruction by the city and state. The property was built in 1920.
Also included is 721 Washington St., a 1,750 +/- sf storefront with BU2 zoning that allows for many uses. The building features three half bathrooms, including one handicap accessible. This building has gas heat and hot water, along with central air conditioning.
Both buildings sit directly across from the express bus to Downtown Boston and the commuter rail to Boston Landing, Fenway, Back Bay, and South Station. Public platforms to the commuter rail have been approved for reconstruction by the city and state. The property was built in 1920.
Key Highlights
- Five one‑bedroom apartments with electric baseboard heat and individual thermostats
- Four units pay their own utilities; one unit’s utilities are paid by the owner
- Two electric hot water tanks, 3 years old, with landlord‑supplied hot water
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $195.8k | $38.16 |
| − Vacancy | −$10.2k | −$1.98 |
| EGI | $185.7k | $36.18 |
| − OpEx | −$83.5k | −$16.28 |
| NOI | $102.1k | $19.90 |
5,132 SF · lease $38.16/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.46M
$1.28M – $1.70M
NOI $102,109 @ 7.0% cap · market cap 5.12%
Second Best
Retail
$1.05M
$922.0K – $1.23M
NOI $73,761 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$3.04M
$2.66M – $3.54M
NOI $212,669 @ 7.0% cap · market cap 10.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Five one-bedroom apartments with electric baseboard heat, individual thermostats, and coin-operated laundry in the basement.
Where is this apartment building located?
The property is located at 723 Washington St Newton, MA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Five one‑bedroom apartments with electric baseboard heat and individual thermostats; Four units pay their own utilities; one unit’s utilities are paid by the owner; Two electric hot water tanks, 3 years old, with landlord‑supplied hot water
