Technical
Financial
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Property profile

723 Washington St 2F Newton, MA 02458

FOR LEASE
Other investment properties
Property ID
US38-1486675
3,222 SF 0.14 ac lot Built 1940
Individually Owned 38-yr Hold
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723 Washington St,Unit 2F, Newton, MA 02458 For Lease
$2,000/Mo
723 Washington St,Unit 2F, Newton, MA 02458
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Property summary

AI-generated overview

The property consists of two adjoining buildings at 723 Washington St. and 721 Washington St., built in 1920. The building at 723 Washington St. contains five one-bedroom apartment units, each finished with wall-to-wall carpeting and heated by electric baseboard heat controlled by individual thermostats; four units pay their own utilities while one unit has utilities paid by the owner. Hot water is provided by the landlord and the building includes two electric hot water tanks that are approximately 3 years old. A coin-operated washer and dryer are located in the basement. The building at 721 Washington St. is a storefront property of approximately 1,750 +/- square feet with BU2 zoning, configured with three half bathrooms including one handicap-accessible restroom; it is equipped with gas heat and gas hot water, and includes central air conditioning. The two buildings are positioned directly across from an express bus route to Downtown Boston and the commuter rail services to Boston Landing, Fenway, Back Bay, and South Station, and publicly accessible commuter rail platforms have been approved for reconstruction by the city and state.

Property profile

Verified
Property type Other investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1940
Construction BRICK
Total area 3,222 SF
Lot 0.14 ac (5,964 SF)
Zoning code BU2
APN NEWT S:23 B:019 L:0005
UPID US38-1486675

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

723 Washington St, Unit 2F Newton, MA 02458
Newton metro Census 373300 BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$421k
Blend (final) Blend
$510k

Owner & transaction history

since 1987
6 recorded transactions
2002
Price N/A
2000
Price N/A
1998
Price N/A
1992
Price N/A
1991
Price N/A
1987
$194,250

Zoning & alternative use

BU2 · Newton, MA
Zoning description

The intent of the zone to promote business uses

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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