Building Details

Year Built 1900

Listing Agency: eXp Realty LLC - Corporate Office

Listed By: Jacob Giuffrida Show Phone

Source: Livianhomesct

Added: Aug 25 Changed: Oct 12 Last Checked: Oct 7 at 5:36PM

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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

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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.

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 / Yr

$48,503

Cap Rate

6.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$970,060 $970.1K

Cap Rate 7%

$692,900 $692.9K

Cap Rate 9%

$538,922 $538.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,448 SF

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 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 (±1% cap)

NOI $48,503 @ 7.0% cap · market cap 6.06%

Second Best

Apartment 5plus

$623.8K

$545.9K – $727.8K (±1% cap)

NOI $43,669 @ 7.0% cap · market cap 5.46%

Theoretical Best

Office A

$861.6K

$753.9K – $1.01M (±1% cap)

NOI $60,312 @ 7.0% cap · market cap 7.54%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Quadplexes

Suggested Use

Top Pick Skin Care Clinic Acupuncture Real Estate Agency Hotel & Motel (Bike/Boat/Book/etc) Store Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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