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INVESTMENT SNAPSHOT
About this property
Rare opportunity to acquire 2 abutting properties being sold as a package, offering 4 rentable units: a well-maintained 3-family home and separate commercial building. The 3-family home features 6 beds, 3 bathrooms, and 3 levels of living space. The property has been well maintained w/ hardwood floors, abundant natural light, excellent ceiling height, and an updated kitchen in Unit 2. Each unit is serviced w/ its own heating system, electrical panel, and hot water tank. The commercial building sits on a T-zoned lot totaling over 7,500 square feet. Potential options include: 2-unit development w/ ADU opportunity or use/rent the building as is…buyers to perform their own due diligence w/ the city. Both properties feature curb cuts, providing sufficient off-street parking. Outstanding location on the bus line and minutes to Arsenal Yards, Charles River, Cambridge and Boston. A unique investment opportunity in highly desirable east Watertown.
Property details
| Units | 4 |
| Living area | 3,166 sqft |
| Lot size | 12,000 sqft |
| Year built | 1923 |
| Price / sqft | $742 |
| County | Middlesex |
| MLS # | 73519444 |
Listing status
| Days on market | 19 days |
| Listed on | May 14, 2026 |
Taxes & financials
| Annual property tax | $9,273 |
| Tax year | 2025 |
| Assessed value | $793,900 |
| Zoning | T |
| Gross income (actual) | $130,800/yr |
| Net operating income (actual) | $130,800/yr |
| Total actual rent | $10,900/mo |
Building & lot
| Stories | 4 |
| Total rooms | 20 |
| Lot size | 0.28 acres |
| Garage spaces | 1 |
| Parking spaces | 6 |
| Basement | Full, Concrete, Unfinished |
| Foundation | Block |
| Roof | Shingle |
Utilities & systems
| Sewer | Public Sewer |
| Water | Public |
Location
More about investing in Watertown →
Listing courtesy of Coldwell Banker Realty - Belmont — Bob Airasian. Listing data © MLS PIN.
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Questions & answers
Auto-generated from the listing data — richer AI answers coming with the live site.
How many units does 204 School St, Watertown MA 02472 have?
It is a 4-unit multi-family property with 3,166 sqft of living area, built in 1923.
How long has 204 School St, Watertown MA 02472 been on the market?
204 School St, Watertown MA 02472 has been listed for 19 days (since May 14, 2026).
What is the estimated cap rate on this 4-family in Watertown?
Based on area median rents, the estimated cap rate is about 3.7%, with a Signal Score of 69/100. These are directional estimates, not an appraisal.
What is the price per unit?
At a list price of $2,350,000 across 4 units, that works out to roughly $587,500 per unit.
What are the property taxes on 204 School St, Watertown MA 02472?
Annual property taxes are $9,273 (2025), on an assessed value of $793,900.
What is the price per square foot?
At $2,350,000 for 3,166 sqft, that's about $742 per square foot.
Is there parking?
1 garage space and 6 total parking spaces.
Where is this property located?
204 School St, Watertown MA 02472 is in Watertown, Middlesex County, MA 02472.
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