Convenient Multifamily Property Near
120 Mill Street, New Bedford, MA 02740
Multifamily property near downtown with easy access to transportation.
Type:Multi-family / 4 Family - 4 Units Up/Down
Property size:
2,820 SFPrice / SF:
$205/SF- Added:
- Sep 30, 2025
- Days on Market:
- 246
- Last Refresh:
- Mar 13 at 11:02 am
Property Features for 120 Mill Street
General Information
- Standard status
- Active
- Size
- 2,820 SF
- Property subtype
- Multi-family / 4 Family - 4 Units Up/Down
Building Details
- Year Built
- 1857
Listing agent Kam Goldstone License #9575496 (508) 238-5000
Listing office Keller Williams Realty (508) 238-5000
Listing date Sep 30, 2025
Source Compass
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 Keller Williams Realty
HighLights
- Steps from downtown with easy access to restaurants, cafes, shopping, and the waterfront.
- Easy access to the new South Coast Rail station for commuting to Boston.
- Efficient heating and cooling mini splits in each unit.
- Located in a growing neighborhood with new businesses and steady investment.
- Full basement.
- Corner lot with city views and porch.
Overview
This multifamily property is located steps from downtown. Each unit is equipped with mini splits for heating and cooling. The property offers convenient access to the new South Coast Rail station, providing a route to Boston. Restaurants, cafes, shopping, and the waterfront are located nearby. The neighborhood is experiencing new business growth and investment.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.6k | $22.20 |
| − Vacancy | −$4.7k | −$1.67 |
| EGI | $57.9k | $20.54 |
| − OpEx | −$17.4k | −$6.16 |
| NOI | $40.5k | $14.37 |
2,820 SF · lease $22.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$579.1K
$506.7K – $675.6K
NOI $40,536 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$531.6K
$465.2K – $620.3K
NOI $37,215 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$831.5K
$727.6K – $970.1K
NOI $58,205 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- New Bedford
- County
- Bristol
- State
- Massachusetts
- Longitude
- -70.9319599
- Latitude
- 41.637729
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Multifamily property near downtown with easy access to transportation.
Where is this quadplex located?
The property is located at 120 Mill Street New Bedford, MA.
What is the asking price?
The asking price for this property is $579,999.
What are key features of this property?
This property features: Steps from downtown with easy access to restaurants, cafes, shopping, and the waterfront.; Easy access to the new South Coast Rail station for commuting to Boston.; Efficient heating and cooling mini splits in each unit.
