Four-Unit Quadplex with Separate
New
For Sale
$799,900
106-108 Grand St, Lowell, MA 01851
Updated multifamily property with a two-bedroom vacancy and three occupied units generating immediate rental income.
Property Size2,448 SF
Price / SF$326.76
Days on Market7
Property Features for 106-108 Grand St
General Information
Standard status
Active
Size
2,448 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR, 2 x 1BR
Multifamily Units
4
Building Details
Year Built
1900
Listing Agency:
eXp Realty LLC - Corporate Office
(978) 643-1505
Listed By:
Jacob Giuffrida
Source:
Livianhomesct
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 30 at 8:40PM
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 eXp Realty LLC - Corporate Office
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains two two-bedroom residences and two one-bedroom residences. Three units are occupied, while one two-bedroom unit will be vacant at closing. Interior updates have been completed, and the property was built in 1900.
Each residence has independent gas and electric service, along with its own gas boiler and water heater. The boilers and water heaters were recently replaced, supporting separate utility management across the building. The property is zoned TTF and located at 106-108 Grand St in Lowell, near downtown, major highways, shopping, restaurants, public transportation, and local universities.
Each residence has independent gas and electric service, along with its own gas boiler and water heater. The boilers and water heaters were recently replaced, supporting separate utility management across the building. The property is zoned TTF and located at 106-108 Grand St in Lowell, near downtown, major highways, shopping, restaurants, public transportation, and local universities.
Key Highlights
- Four units: two 2‑bedroom residences and two 1‑bedroom residences
- Three units occupied; one 2‑bedroom unit delivered vacant at closing
- Separate gas and electric utilities for each unit
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
$48,503
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
6.06%
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%
$970,060
$970.1K
Cap Rate 7%
$692,900
$692.9K
Cap Rate 9%
$538,922
$538.9K
Market Conditions
NOI Build-Up for 2,448 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
$74.9K $30.60/SF
− Vacancy
−$5.6K −$2.30/SF
EGI
$69.3K $28.31/SF
− OpEx
−$20.8K −$8.49/SF
NOI
$48.5K $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%
$970,060
Cap Rate 7%
$692,900
Cap Rate 9%
$538,922
Alternative Uses
Best Use
Multifamily LT 5
$692.9K
$606.3K – $808.4K
NOI $48,503 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$623.8K
$545.9K – $727.8K
NOI $43,669 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$861.6K
$753.9K – $1.01M
NOI $60,312 @ 7.0% cap · market cap 7.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,017
Businesses Nearby
Explore this area
Business Placement
Demographics for 01851, MA
32,691
Population
11,759
Households
2.8
Avg Household Size
34
Median Age
32%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
10,216
Density / Sq Mi
$87,962
Median Household Income
$46,388
Median Earnings
$1,686
Median Rent
$432,100
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 - Updated multifamily property with a two-bedroom vacancy and three occupied units generating immediate rental income.
Where is this quadplex located?
The property is located at 106-108 Grand St Lowell, MA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Four units: two 2‑bedroom residences and two 1‑bedroom residences; Three units occupied; one 2‑bedroom unit delivered vacant at closing; Separate gas and electric utilities for each unit
