3-Unit Multifamily
For Sale
$899,900
94 Chelsea Street, Boston, MA 02128
The three-unit building will be delivered vacant, with no existing tenancies to manage.
Property Size2,590 SF
Price / SF$347.45
Days on Market8
Property Features for 94 Chelsea Street
General Information
Standard status
Active
Size
2,590 SF
Property subtype
Multi-family
Site & Location
Neighborhood
East Boston
Public Transit
Yes
Additional Details
Asking Price
$899,900
Multifamily Units
3
Building Details
Year Built
1900
Listing Agency:
eXp Realty LLC
Listed By:
Candor Investment Group
(978) 710-5616
Source:
Lindorealtygroup
Added: Oct 18
Changed: Oct 25
Last Checked: Oct 24 at 10:31PM
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 eXp Realty LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This three-family property in East Boston was built in 1900 and is slated for delivery without occupants or tenants. A change to four units has been suggested, but would depend on feasibility and approval by the appropriate city departments.
The property is near local amenities, restaurants, public transportation, and major commuter routes.
The property is near local amenities, restaurants, public transportation, and major commuter routes.
Key Highlights
- Three existing residential units
- To be delivered vacant, without occupants or tenants
- Potential conversion to four units is subject to feasibility and city approvals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,447
Cap Rate
7.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,308,940
$1.3M
Cap Rate 7%
$934,957
$935.0K
Cap Rate 9%
$727,189
$727.2K
Market Conditions
NOI Build-Up for 2,590 SF
Gross rent
$97.9K $37.80/SF
− Vacancy
−$4.4K −$1.70/SF
EGI
$93.5K $36.10/SF
− OpEx
−$28.0K −$10.83/SF
NOI
$65.4K $25.27/SF
Area
Boston, MA
Vacancy
4.50%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,308,940
Cap Rate 7%
$934,957
Cap Rate 9%
$727,189
Alternative Uses
Best Use
Multifamily LT 5
$935.0K
$818.1K – $1.09M
NOI $65,447 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$869.2K
$760.6K – $1.01M
NOI $60,844 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$1.94M
$1.70M – $2.26M
NOI $135,757 @ 7.0% cap · market cap 15.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,070
Businesses Nearby
Explore this area
Business Placement
Demographics for 02128, MA
43,066
Population
19,124
Households
2.3
Avg Household Size
33
Median Age
38%
College-Educated
77%
High-School Grad
5.0 sq mi
ZIP Area
8,613
Density / Sq Mi
$92,079
Median Household Income
$48,549
Median Earnings
$2,009
Median Rent
$680,000
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 - The three-unit building will be delivered vacant, with no existing tenancies to manage.
Where is this triplex located?
The property is located at 94 Chelsea Street Boston, MA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Three existing residential units; To be delivered vacant, without occupants or tenants; Potential conversion to four units is subject to feasibility and city approvals
