Five-Unit Apartment
For Sale
$590,000
1 Cheney Street, Orange, MA 01364
Fully occupied apartment property with separate utilities and paved off-street parking.
Property Size2,920 SF
Price / SF$202.05
Days on Market88
Property Features for 1 Cheney Street
General Information
Standard status
Active
Size
2,920 SF
Property subtype
Multi-family
Occupancy
100%
Units
Unit Mix
5 x 1BR
Multifamily Units
5
Building Details
Year Built
1910
Listing Agency:
Four Columns Realty,LLC
Listed By:
Liza M. Melo
(508) 287-2695
Source:
Demakis
Added: Jul 10
Changed: Oct 4
Last Checked: Oct 4 at 10:08AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Four Columns Realty,LLC
Investment Insights
Based on property information with market context.
This 2,920-square-foot apartment building, constructed in 1910, contains five one-bedroom apartments and is fully occupied. Separate utilities place responsibility for individual utility expenses with the tenants.
Each apartment received new flooring and a new electric hot water heater approximately four years ago. The property also includes a paved driveway completed about four years ago, providing off-street parking for the building.
Each apartment received new flooring and a new electric hot water heater approximately four years ago. The property also includes a paved driveway completed about four years ago, providing off-street parking for the building.
Key Highlights
- Five fully occupied one‑bedroom apartments
- 2,920 square feet in a building constructed in 1910
- Separate utilities with tenants responsible for their own utility expenses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,771
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$775,420
$775.4K
Cap Rate 7%
$553,871
$553.9K
Cap Rate 9%
$430,789
$430.8K
Market Conditions
NOI Build-Up for 2,920 SF
Gross rent
$73.6K $25.20/SF
− Vacancy
−$3.1K −$1.06/SF
EGI
$70.5K $24.14/SF
− OpEx
−$31.7K −$10.86/SF
NOI
$38.8K $13.28/SF
Area
Franklin County, MA
Vacancy
4.20%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$775,420
Cap Rate 7%
$553,871
Cap Rate 9%
$430,789
Alternative Uses
Best Use
Apartment 5plus
$553.9K
$484.6K – $646.2K
NOI $38,771 @ 7.0% cap · market cap 6.57%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.21M
$1.06M – $1.41M
NOI $84,759 @ 7.0% cap · market cap 14.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
181
Businesses Nearby
Explore this area
Business Placement
Demographics for 01364, MA
7,665
Population
3,435
Households
2.2
Avg Household Size
45
Median Age
16%
College-Educated
90%
High-School Grad
36.0 sq mi
ZIP Area
213
Density / Sq Mi
$54,061
Median Household Income
$37,525
Median Earnings
$745
Median Rent
$226,000
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?
Apartment building - Fully occupied apartment property with separate utilities and paved off-street parking.
Where is this apartment building located?
The property is located at 1 Cheney Street Orange, MA.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Five fully occupied one‑bedroom apartments; 2,920 square feet in a building constructed in 1910; Separate utilities with tenants responsible for their own utility expenses
