149-153 Palfrey Street, Watertown, MA 02472

• 7 beds |
• 6 baths |
• 5,410 sqft

Property Description

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 Status:

Active

Date Added:

September 9, 2026

Data Last Updated:

October 5, 2026 at 6:06PM

Listing Office:

Colonial Realty Associates, LLC : 617-977-6025

Listing Agent:

Patrick Arone : 617-438-5038

MLS ID:

73573995

Interior

• General: StorageCeiling Fan(s)PantryStudioBathroom with Shower StallBathroom With TubBathroom With Tub & ShowerRemodeledLiving RoomDining RoomKitchenFamily RoomLaundry RoomOffice/DenSunroomLiving RM/Dining RM ComboMudroom
• Appliances: RangeDishwasherDisposalMicrowaveFreezerRefrigeratorWasherDryer
• Laundry: Electric Dryer HookupWasher Hookup
• Basement: FullPartialFinishedInterior EntryGarage AccessUnfinished
• Flooring: TileVinylConcreteVariesHardwoodWood
• A/C: Central AirWindow Unit(s)
• Heating: Hot WaterOilBaseboardSteam
• Fireplace: FireplaceFireplaces: 2

Exterior

• General: Balcony/DeckRain GuttersStone Wall
• Parking: Paved DriveShared DrivewayOff StreetAssignedParking spaces: 9

Construction

• Roofing: ShingleRubber
• General: FrameBrickStoneBlock4Concrete PerimeterBlockBrick/Mortar

Location

• Road/Access: Public
• Originating MLS: MLS Property Information Network
• County: Middlesex

Lot

• Zoning: S-6003270009Y00000
• View: Scenic View(s)View

Utilities

• Utilities: for Gas Rangefor Electric Rangefor Gas Ovenfor Electric Ovenfor Electric DryerWasher HookupVaries per UnitFusesCircuit Breakers100 Amp Service200+ Amp Service
• Water: Public
• Sewer: Public Sewer

Financial

• Source: MLS Property Information Network
• Exclusions: None