Lead-Certified Three-Unit Apartment
New
For Sale
$1,049,000
9 Parker Street, Chelsea, MA 02150
Fully leased multifamily property with on-site coin-operated laundry.
Property Size5,355 SF
Price / SF$195.89
Days on Market5
Property Features for 9 Parker Street
General Information
Standard status
Active
Size
5,355 SF
Property subtype
Multi-family
Occupancy
100%
Units
Unit Mix
3 x 4BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
coin-operated laundry
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Boston Realty Advisors
Listed By:
Kevin Benzinger
(617) 846-8000
Source:
Highlandre
Added: Aug 30
Changed: Sep 1
Last Checked: Sep 1 at 8:19PM
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 Boston Realty Advisors
Investment Insights
Based on property information with market context.
This three-unit apartment property at 9 Parker Street includes three 4-bedroom, 1-bath residences. The building was constructed in 1900, and all apartments have lead-paint certification. Occupancy is fully leased, providing an established residential income profile.
A coin-operated laundry serves the property and provides an additional income stream. The lower level is identified as having potential for a fourth unit, subject to applicable requirements and approvals. The property is located in Chelsea, Massachusetts, within the Greater Boston area.
A coin-operated laundry serves the property and provides an additional income stream. The lower level is identified as having potential for a fourth unit, subject to applicable requirements and approvals. The property is located in Chelsea, Massachusetts, within the Greater Boston area.
Key Highlights
- Three‑unit apartment building with three 4‑bedroom, 1‑bath units
- Fully leased residential property
- All units are lead‑paint certified
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
$93,023
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
8.87%
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%
$1,860,460
$1.9M
Cap Rate 7%
$1,328,900
$1.3M
Cap Rate 9%
$1,033,589
$1.0M
Market Conditions
NOI Build-Up for 5,355 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
$179.9K $33.60/SF
− Vacancy
−$10.8K −$2.02/SF
EGI
$169.1K $31.58/SF
− OpEx
−$76.1K −$14.21/SF
NOI
$93.0K $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 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%
$1,860,460
Cap Rate 7%
$1,328,900
Cap Rate 9%
$1,033,589
Alternative Uses
Best Use
Multifamily LT 5
$1.46M
$1.28M – $1.70M
NOI $102,019 @ 7.0% cap · market cap 9.73%
Second Best
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $93,023 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$3.17M
$2.77M – $3.70M
NOI $221,910 @ 7.0% cap · market cap 21.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,843
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Fully leased multifamily property with on-site coin-operated laundry.
Where is this triplex located?
The property is located at 9 Parker Street Chelsea, MA.
What is the asking price?
The asking price for this property is $1,049,000.
What are key features of this property?
This property features: Three‑unit apartment building with three 4‑bedroom, 1‑bath units; Fully leased residential property; All units are lead‑paint certified
