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Three-family investment · Chelsea, MA

148 Walnut Street

Renovated living. Flexible ownership. Boston access.

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$1,099,000Asking price
3Residential units
2022–2023Year renovated
8%+Pro forma cap rate

Investment overview

A turnkey three-family with room for your next chapter.

North Shore Realty Advisors, Inc. presents a fully gut-renovated, condo-quality three-family property just off Route 1, with easy access to the Tobin Bridge and Downtown Boston. The top-floor three-bedroom residence has been intentionally vacated, creating flexibility for owner-occupancy or a new tenancy.

Investment highlights

  • Fully renovated: Modern interiors, updated systems, and extensive capital improvements.
  • Attractive unit mix: Two three-bedroom residences with bonus office space, plus a two-bedroom residence with a dedicated home office.
  • Owner-occupancy opportunity: Vacant top-floor three-bedroom residence.
  • Commuter access: Convenient to Route 1, the Tobin Bridge, and Greater Boston employment centers.

Unit layouts

Space to live and work.

First floor2 bedrooms + home office
Second floor3 bedrooms + bonus office space
Top floor · Vacant3 bedrooms + bonus office space

Luxury vinyl plank flooring, granite countertops, stainless steel Amana appliances, gas ranges, dishwashers, and updated bathrooms.

Improvements include roof, windows, electrical systems, and Navien tankless heating and hot water systems. Coin-operated laundry and individual basement storage add everyday convenience.

Annual financials

Investment snapshot.

$121,800Pro forma gross income, including laundry
$22,975Listed operating expenses
$98,825Pro forma NOI
8.99%Pro forma cap rate at asking price

Pro forma assumes full occupancy and $3,550/month for the vacant top-floor unit. Listed expenses exclude separate allowances for vacancy, repairs, management, and reserves. Figures are not guarantees of performance.

Chelsea, Massachusetts

Close to Boston. Connected to opportunity.

Chelsea combines neighborhood character with proximity to Downtown Boston and Logan International Airport. Local restaurants, independent shops, historic streetscapes, and the waterfront create a distinctive urban setting. The city is served by the Newburyport/Rockport Commuter Rail Line and Silver Line SL3, with Route 1 and the Tobin Bridge providing additional regional connections.

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Disclosure: Information was obtained from third-party sources believed to be reliable but has not been independently verified. North Shore Realty Advisors, Inc. makes no representation or warranty, express or implied, as to accuracy or completeness. Projections are estimates and not guarantees of future performance. Buyers shall conduct their own independent due diligence and verify all material facts. Subject to errors, omissions, changes, prior sale, and withdrawal without notice. Photos may be digitally enhanced or staged.