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Turnkey 3-Unit Multifamily, Fully Leased 43 Cypress St 3 Unit Apartment Building $3,481,230 CAD ($1,160,410 CAD/Unit) 4.97% 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 (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$206,316
|
$42.70
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$206,316
|
$42.70
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$33,278
|
$6.89
|
| Net Operating Income |
$173,038
|
$35.81
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $206,316 |
| Annual Per SF | $42.70 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $206,316 |
| Annual Per SF | $42.70 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $33,278 |
| Annual Per SF | $6.89 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $173,038 |
| Annual Per SF | $35.81 |
Property Facts
| Price | $3,481,230 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $1,160,410 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 4.97% | 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 - Three-Family Residential | ||
| Price | $3,481,230 CAD |
| Price Per Unit | $1,160,410 CAD |
| Sale Type | Investment |
| Cap Rate | 4.97% |
| 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 - Three-Family Residential |
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
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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 | $920,061 CAD |
| Land Assessment | $740,614 CAD | Total Assessment | $1,660,675 CAD |
Property Taxes
Parcel Number
WATE-001033-000007-000090
Land Assessment
$740,614 CAD
Improvements Assessment
$920,061 CAD
Total Assessment
$1,660,675 CAD
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Turnkey 3-Unit Multifamily, Fully Leased | 43 Cypress St
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