Four-Unit Quadplex with Mixed
For Sale
$924,900
Pending
5 Dublin St, Lowell, MA 01854
Residential Income, Lowell, MA
Property Size3,482 SF
Lot Size0.05 Acres
Days on Market49
Property Features for 5 Dublin St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
UMF
Bedrooms
9
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 7, Bathroom 2, Bathroom 3, Bedroom 9, Bedroom 8, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 4, Bedroom 6, Bathroom 1, Bedroom 5
Elementary school
Lps
Middle school
Lps
High school
Lps Or Gl-Tech
Directions
Broadway St > Suffolk St > Dublin St
Standard status
Pending
APN
M:139 B:1867 L:5,3185354
Size
3,482 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7305
Building Details
Year built
1920
Floors in Building
5
Number of units
4
Listing Agency:
RE/MAX Innovative Properties · RE/MAX International
(978) 452-4432
Listed By:
Joshua Naughton · License #57445
(603) 434-4101
Added: Jul 19
Changed: Sep 4
Last Checked: Sep 5 at 11:06AM
MLS# 73552034
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,482-square-foot quadplex, built in 1920, contains four separately metered residences with independent utilities. Two units feature four bedrooms, generous living rooms, and full bathrooms; the second-floor residence also includes an exterior wraparound porch. Another apartment is an extended studio with a separate kitchen and private rear entry, while the remaining residence spans the second and third floors with a kitchen, living room, full bathroom, and three bedrooms. Unit 3 is scheduled for vacant delivery.
The property is positioned near downtown Lowell, across from the Canal walkway and close to Market Basket, public transportation, and UMass Lowell. North Common and Pool and the Senior Center are also within a short distance. The property is located on a 0.05-acre lot and carries UMF zoning.
The property is positioned near downtown Lowell, across from the Canal walkway and close to Market Basket, public transportation, and UMass Lowell. North Common and Pool and the Senior Center are also within a short distance. The property is located on a 0.05-acre lot and carries UMF zoning.
Key Highlights
- Four‑unit quadplex with 3,482 square feet of building area
- Unit mix includes two 4‑bedroom residences, an extended studio, and a 3‑bedroom unit
- Unit 3 to be delivered vacant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$68,991
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,379,820
$1.4M
Cap Rate 7%
$985,586
$985.6K
Cap Rate 9%
$766,567
$766.6K
Market Conditions
NOI Build-Up for 3,482 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$106.5K $30.60/SF
− Vacancy
−$8.0K −$2.30/SF
EGI
$98.6K $28.31/SF
− OpEx
−$29.6K −$8.49/SF
NOI
$69.0K $19.81/SF
Area
Lowell, MA
Vacancy
7.50%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,379,820
Cap Rate 7%
$985,586
Cap Rate 9%
$766,567
Alternative Uses
Best Use
Multifamily LT 5
$985.6K
$862.4K – $1.15M
NOI $68,991 @ 7.0% cap · market cap 7.46%
Second Best
Apartment 5plus
$887.3K
$776.4K – $1.04M
NOI $62,114 @ 7.0% cap · market cap 6.72%
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,788 @ 7.0% cap · market cap 9.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,018
Businesses Nearby
Explore this area
Business Placement
Demographics for 01854, MA
29,561
Population
10,960
Households
2.7
Avg Household Size
31
Median Age
30%
College-Educated
85%
High-School Grad
4.0 sq mi
ZIP Area
7,390
Density / Sq Mi
$70,397
Median Household Income
$39,216
Median Earnings
$1,477
Median Rent
$360,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Individually metered residences include two four-bedroom units, an extended studio, and a three-bedroom multi-level layout.
Where is this quadplex located?
The property is located at 5 Dublin St Lowell, MA.
What is the asking price?
The asking price for this property is $924,900.
What are key features of this property?
This property features: Four‑unit quadplex with 3,482 square feet of building area; Unit mix includes two 4‑bedroom residences, an extended studio, and a 3‑bedroom unit; Unit 3 to be delivered vacant
