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Turnkey 3-Unit Multifamily, Fully Leased 43 Cypress St 3 Unit Apartment Building $2,450,000 ($816,667/Unit) 5.93% Cap Rate Watertown, MA 02472
Investment Highlights
- Modern 3-unit multifamily property, each unit featuring open-concept layouts with vaulted ceilings and premium finishes.
- Energy-efficient features: insulated windows and doors, ET irrigation controller.
- Major retailers within 5 miles: Arsenal Yards and Watertown Mall
- Security features include keyless entry systems and video surveillance.
- Located near public transportation, shopping centers, parks, and schools.
- Hospitals within 5 miles: Mount Auburn Hospital, St. Elizabeth’s Medical Center, Franciscan Children’s Hospital & Rehab Center, Newton-Wellesley
Executive Summary
Fully Renovated & Occupied
3-Unit Multifamily Investment Opportunity
Building Size: 3,800 SF | 10 Beds | 7 Baths
Year Built: 2019 (Gut Renovation) | Lot Size: 6,403 SF
Parking: 8 Off-Street Spaces
Zoning: T (Three-Family Residential)
Occupancy: 100% Leased
Location & Accessibility
• Situated in East Watertown, a vibrant neighborhood with a mix of residential and commercial properties.
• Proximity to the Arsenal Yards development, offering shopping, dining, and entertainment options.
• Accessible via multiple public transit routes, including bus lines 70, 71, and 73.
• Nearby schools: Hosmer Elementary (0.2 mi), Watertown Middle School (1.3 mi), Watertown High School (0.6 mi).
Property Highlights
• Modern 3-unit multifamily property, each unit featuring open-concept layouts with vaulted ceilings and premium finishes.
• High-end kitchens equipped with quartz countertops, white shaker cabinets, and stainless steel appliances.
• Bathrooms boast heated floors and contemporary tile work.
• In-unit washer and dryer hookups for tenant convenience.
• Security features include keyless entry systems and video surveillance.
• Outdoor amenities: private backyard with fire pit, balconies, and a shared yard space.
• Energy-efficient features: insulated windows and doors, ET irrigation controller.
• Located near public transportation, shopping centers, parks, and schools.
Unit 1 -
$4,800
4bed/3bath
1,600 SF
Unit 2 -
$3,500
3bed/2bath
1,313 SF
Unit 3 -
$3,800
3bed/2,bath
1,313 SF
Total $12,100
3-Unit Multifamily Investment Opportunity
Building Size: 3,800 SF | 10 Beds | 7 Baths
Year Built: 2019 (Gut Renovation) | Lot Size: 6,403 SF
Parking: 8 Off-Street Spaces
Zoning: T (Three-Family Residential)
Occupancy: 100% Leased
Location & Accessibility
• Situated in East Watertown, a vibrant neighborhood with a mix of residential and commercial properties.
• Proximity to the Arsenal Yards development, offering shopping, dining, and entertainment options.
• Accessible via multiple public transit routes, including bus lines 70, 71, and 73.
• Nearby schools: Hosmer Elementary (0.2 mi), Watertown Middle School (1.3 mi), Watertown High School (0.6 mi).
Property Highlights
• Modern 3-unit multifamily property, each unit featuring open-concept layouts with vaulted ceilings and premium finishes.
• High-end kitchens equipped with quartz countertops, white shaker cabinets, and stainless steel appliances.
• Bathrooms boast heated floors and contemporary tile work.
• In-unit washer and dryer hookups for tenant convenience.
• Security features include keyless entry systems and video surveillance.
• Outdoor amenities: private backyard with fire pit, balconies, and a shared yard space.
• Energy-efficient features: insulated windows and doors, ET irrigation controller.
• Located near public transportation, shopping centers, parks, and schools.
Unit 1 -
$4,800
4bed/3bath
1,600 SF
Unit 2 -
$3,500
3bed/2bath
1,313 SF
Unit 3 -
$3,800
3bed/2,bath
1,313 SF
Total $12,100
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$145,200
|
$30.05
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$145,200
|
$30.05
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$38,280
|
$7.92
|
| Net Operating Income |
$106,920
|
$22.13
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $145,200 |
| Annual Per SF | $30.05 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $145,200 |
| Annual Per SF | $30.05 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $38,280 |
| Annual Per SF | $7.92 |
| Net Operating Income | |
|---|---|
| Annual | $106,920 |
| Annual Per SF | $22.13 |
Property Facts
| Price | $2,450,000 | Apartment Style | Low-Rise |
| Price Per Unit | $816,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 5.93% | Building Size | 4,832 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1920/2019 |
| Property Subtype | Apartment | ||
| Zoning | T | ||
| Price | $2,450,000 |
| Price Per Unit | $816,667 |
| Sale Type | Investment |
| Cap Rate | 5.93% |
| Sale Condition | 1031 Exchange |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,832 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1920/2019 |
| Zoning | T |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer
- Ceiling Fans
- Crown Molding
- Granite Countertops
- Hardwood Floors
- Deck
- Instant Hot Water
- Island Kitchen
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | WATE-001033-000007-000090 | Improvements Assessment | $665,000 |
| Land Assessment | $535,300 | Total Assessment | $1,200,300 |
Property Taxes
Parcel Number
WATE-001033-000007-000090
Land Assessment
$535,300
Improvements Assessment
$665,000
Total Assessment
$1,200,300
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Turnkey 3-Unit Multifamily, Fully Leased | 43 Cypress St
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