Six-Unit Apartment
New
For Sale
$1,350,000
102 Fourth Ave, Lowell, MA 01854
Six one-bedroom residences provide a straightforward multifamily configuration with gas appliances and electric dryers.
Property Size4,884 SF
Days on Market6
Property Features for 102 Fourth Ave
General Information
Standard status
Active
Size
4,884 SF
Total Parking Spaces
7
Property subtype
Investment
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$9,480
Building Details
Building Size
4,884 SF
Year Built
1950
Buildings
1
Stories
5
Units
6
Listing Agency:
(978) 770-7541
Listed By:
Shawn McGuire
(978) 770-7541
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 20 at 11:49AM
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 Shawn McGuire
Investment Insights
Based on property information with market context.
Built in 1950, this Lowell multifamily property contains six one-bedroom, one-bathroom residences. The unit mix offers a consistent layout across the building, with gas appliances and electric dryers serving the apartments. Hot water tanks were updated between 2017 and 2024, providing documented improvements to a core building system.
The property is located at 102 Fourth Ave, Lowell, MA 01854. Parking includes 7 off-street spaces, with additional on-street parking directly in front of the building. Walk Score is 98, Transit Score is 60, and Bike Score is 49, reflecting strong walk access, good transit access, and somewhat bikeable conditions.
The property is located at 102 Fourth Ave, Lowell, MA 01854. Parking includes 7 off-street spaces, with additional on-street parking directly in front of the building. Walk Score is 98, Transit Score is 60, and Bike Score is 49, reflecting strong walk access, good transit access, and somewhat bikeable conditions.
Key Highlights
- Six‑unit apartment property with six 1‑bedroom, 1‑bathroom units
- 7 off‑street parking spaces plus on‑street parking in front
- Hot water tanks updated between 2017 and 2024
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
$87,123
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
6.45%
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%
$1,742,460
$1.7M
Cap Rate 7%
$1,244,614
$1.2M
Cap Rate 9%
$968,033
$968.0K
Market Conditions
NOI Build-Up for 4,884 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
$170.0K $34.80/SF
− Vacancy
−$11.6K −$2.37/SF
EGI
$158.4K $32.43/SF
− OpEx
−$71.3K −$14.60/SF
NOI
$87.1K $17.84/SF
Area
Lowell, MA
Vacancy
6.80%
Lease Rate
$34.80 /SF/Yr
Expense Ratio
45.00%
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%
$1,742,460
Cap Rate 7%
$1,244,614
Cap Rate 9%
$968,033
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.09M – $1.45M
NOI $87,123 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.50M – $2.01M
NOI $120,329 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
917
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Six one-bedroom residences provide a straightforward multifamily configuration with gas appliances and electric dryers.
Where is this apartment building located?
The property is located at 102 Fourth Ave Lowell, MA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Six‑unit apartment property with six 1‑bedroom, 1‑bathroom units; 7 off‑street parking spaces plus on‑street parking in front; Hot water tanks updated between 2017 and 2024
