149-153 Palfrey Street

Watertown, MA 02472

PACKAGE SALE ONLY: 149 and 153 Palfrey Street are offered together for $1,999,900 and will not be sold separately.A rare opportunity to acquire two adjacent, family-held properties offering a compelling combination of private single-family living, established rental income and meaningful value-add potential.Originally purchased by the same family in 1958, the property was later subdivided, and the single-family residence at 149 Palfrey Street was constructed in 1963. Both properties have remained in the same family for nearly seven decades and are now being offered as one coordinated package.149 Palfrey Street is a well-maintained three-bedroom ranch featuring a fireplaced living room, dining room, den, eat-in kitchen, hardwood floors, central air and an attached garage. The substantial lower level offers a recreation room with a second fireplace, half bath, laundry and utility areas, workshop space and abundant storage. With approximately 2,500 square feet of living space across two levels, the home is comfortable and move-in ready while offering an opportunity to modernize over time.Next door, 153 Palfrey Street is an established four-unit property with approximately 3,000 square feet of living space. Units 2, 3 and 4 are occupied by tenants at will, providing immediate rental income. Unit 1 is vacant and requires renovation, creating an opportunity to improve the space, establish a new market rent and increase the property’s overall income potential. Unit 4 has been recently updated.Tenants are at will. Seller can delivery with the existing tenancies in place or vacant with required notice. No specific vacancy date is represented. An investor may preserve the current income while completing due diligence, planning improvements, obtaining estimates and arranging financing.For an owner-occupant, this package offers the privacy of a detached single-family home with income from four neighboring apartments—without sharing walls with tenants. For an investor, it presents five residences across two adjacent parcels, existing cash flow and immediate value-add potential.Two buildings. Five residences. Nearly seven decades of family ownership. One remarkable Watertown opportunity. Cross-reference companion MLS Listing IDs 73573985 and 73573993.

Listing courtesy of Patrick Arone of Colonial Realty Associates, LLC



The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors, landlords, and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing, leasing or renting listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing, leasing or renting. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

Last checked 2026-09-18 11:28 AM UTC